Middle East

Suez Canal revenues fall 5.6% in first 4 months

 

Cairo: Suez Canal revenues fell during the first four months of this year by 5.6%, to about $1.59bn. The deputy director of the planning and research department at the Suez Canal Authority Mahmoud Rizk attributed the decline in revenues to the reduction of numbers and cargoes of natural gas tankers. The government data showed that Suez Canal revenues have fallen over the past month by more than 6% to $406m. The Egyptian government has been raising ships transit fees since the beginning of this month by between 2% and 5%.  [28/05/13]

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