Egypt Suez Canal revenues rise in June

ISMAILIA: Egypt s revenues from the Suez Canal climbed to $358.8 million in June 2007 from $318.1 million in the same month a year earlier, the Suez Canal Authority said on Friday. The number of vessels passing through the waterway fell to 1,657 in June from 1,679 in May, but up from 1,534 in June …

Reuters July 14, 2007

ISMAILIA: Egypt s revenues from the Suez Canal climbed to $358.8 million in June 2007 from $318.1 million in the same month a year earlier, the Suez Canal Authority said on Friday.

The number of vessels passing through the waterway fell to 1,657 in June from 1,679 in May, but up from 1,534 in June 2006.

Canal revenues were $383.7 million in May.

The Suez Canal Authority has raised fees on passing ships this year by an average of 2.8 percent. The application of the new tolls started in April.

The canal is an important source of foreign currency for Egypt, along with remittances from Egyptians living abroad, tourism and oil and gas exports.

Topics: FJP