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Revenues at Egypt's Suez Canal spike in 2018-19

Logistic News - Published on Tue, 13 Aug 2019

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The Suez Canal Authority has recorded a 5.4% jump in its 2018-19 revenues to reach USD 6.3 billion, compared to corresponding numbers in the last financial year. Chairman of Suez Canal Economic Zone and the Suez Canal Authority Mohab Mamish said that the renovation projects boosted the authority's proceeds, which hit USD 6 billion in the 2017-18 fiscal year. The chairman said that revenues increased from USD 2.5 billion in 2015-16 to USD 4.4 billion in 2016-17.

The canal authority is currently preparing for passage of the world’s largest tank ship, type 24-Megamaz, with a capacity of 23,000 containers. It is one of 11 sea vessels chosen for operation for commerce between the Far East and West Europe.

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Posted By : Mohan Sharma on Tue, 13 Aug 2019
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