Suez Canal Revenues Jump to Highest Monthly Level in August

Revenues from Egypt’s vital waterway Suez Canal jumped to US$508 million in August, the highest monthly level in the canal’s history, said Suez Canal Authority (SCA) Chairman Mohab Mamish on Wednesday.

The Egyptian official further referred that 2014 is a record year for revenues from the waterway, the fastest shipping route between Europe and Asia.

Official revenue figures for August have yet to be published. The Suez Canal, for which a major expansion is planned, is one of Egypt’s main sources of foreign currency.

The Suez Canal, for which a major expansion is planned, is one of Egypt’s main sources of foreign currency.