FINANCIAL NEWS

Vessel traffic at Suez Canal falls 1.8% in Feb

12 Mar 2012

(MENAFN) The Suez Canal Authority said that in February, vessels traffic at the canal slipped 1.8 percent from the same period a year earlier, reported The National.

The authority added that revenues in the period fell 1 percent from 2011’s same month to USD381.4 million.

On the other hand, container shipping dropped by 10.9 percent to 491 vessels, and tonnage went down by 23.8 percent.

It is worth noting that in February, numbers of passenger ships reached 1 from 4, according to the authority, which added that higher pirate attacks in the Gulf of Aden in addition to grounding of the Costa Concordia in 2012 has hampered the cruise industry.

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