Suez Canal Authority (SCA) Chairman Osama Rabie announced that the Suez Canal’s revenues achieved the highest ever monthly record in July of $704 million.
In a statement released on Tuesday, SCA chief said as many as 2,103 vessels crossed the waterway, which is the largest ever number of vessels in the canal’s history.
Revenue from Egypt’s Suez Canal reached $704 million in July compared with $531.8 million in the same month of the previous year, recording a rise of 32.4 per cent, according to the statement.
Moreover, the total net tonnage crossing the canal hiked 18.2 per cent, amounting to 125.1 million tons in July, compared to 105.8 million tons during the same month of the previous year.
Navigation reports have also pointed out to a rise in the number of oil tankers by 60.2 per cent, achieving the highest ever monthly revenues from oil tankers which is estimated at $153 million, he added.
Also, transit of natural gas tankers recorded a 31 per cent rise, the highest ever monthly revenue of Liquified Natural Gas (LNG) tankers with a total value of $52 million.
The waterway is a vital source of foreign currency in Egypt, along with tourism, oil and gas exports and remittances from Egyptians living abroad.
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