Suez Canal achieves highest revenue in its history

01-07-2018 04:42 PM

Usama Fayez


 

 

With the fiscal year 2017/2018 coming to a close, Mohab Mameesh, Head of the Suez Canal Authority (SCA), declared that the revenue of the Suez Canal has scored the highest year value in its history, at a total USD5.6 billion. This represented a 13 per cent increase over revenue of the previous year, fiscal 2016/2017, which stood at USD5 billion.

Mr Mameesh said that, in Egyptian Pounds, revenue of the Canal rose by 35.3 per cent over the previous year: revenue in fiscal 2017/2018 amounted to EGP99.1 billion compared to EGP73.3 billion in fiscal year 2016/2017, with an increase of EGP25.8 billion.

As to traffic in the Suez Canal traffic, Mr Mameesh said it had seen a significant rise in the number of ships crossing and the cargo they carried. In fiscal 2017/2018, he said, 17,845 ships crossed the Canal compared to 17,004 during 2017/2017, with an increase of 841 ships, 4.9 per cent. The net weight during 2017/2018 exceeded one billion tons of cargo compared to 995 million tons in 2016/2017.

Watani International

1 July 2018

 

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