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  • 24-08-21

    Revenues from Egypt’s Suez Canal increase 11.2 percent to USD3.88B

    (MENAFN) A local TV channel quoted the canal’s authority chairman, Osama Rabie as saying that the profits from Egypt’s Suez Canal increased 11.2 percent to USD3.88 billion from Jan. 20 to Aug. 20 in comparison to the previous year same time span, when revenues stood at USD3.49 billion.

    About 15 percent of the world’s shipping traffic travels through the Suez Canal, the shortest shipping route amid Europe and Asia. It is an important source of foreign currency for Egypt.

    Official data further showed that the amount of ships that passed through the Suez Canal rose in the January-June period of 2021 to 9,763 vessels in comparison with 9,546 ships in the previous year same time.

    A giant container ship Ever Given turned into jammed across the canal in high winds on March 23. It blocked the canal for six days.

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