Suez Canal revenues increase to 8.1 bln Egyptian pounds in November

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Revenues of the Suez Canal Authority (SCA) rose to 8.1 billion Egyptian pounds ($453.5 million) during November 2017 from 6.1 billion pounds during the same period in 2016, said the county’s state-run statics agency CAPMAS on Monday.

Revenues rose to 8.3 billion pounds in October, compared to 8.1 billion  pounds in September, CAPMAS further added.

Revenues increased by 2.2 percent during the first nine months of 2017, Suez Canal Authority’s chief Mohab Mamish said during a press conference held in October.

The number of vessels crossing the Suez Canal during November amounted to 411 oil tankers, and 1,123 other vessels, with a total tonnage of 91 million tons.

Chairman of SCA Admiral Mohab Mamish stated earlier in December that the number of ships passing the Suez Canal hit its highest record in history with a total tonnage at 5.2 million tonnes and 74 giant vessels passed. Mamish said in November in a statement that he managed to convince an alliance of five shipping lines that had ceased operations in East Port Said earlier this year, to resume operations.

He held talks during November with shipping lines of Hapag-Lloyd, K Line, Yang Ming Marine Transport, Mitsui O.S.K. Lines, and the NYK Group in order to convince them to restart work in Egypt. Source: Egypt today