Suez Canal receipts fall to $412.8m in November

Reuters, Ahram Online, Thursday 9 Dec 2010

Sluggish trade traffic affects Suez Canal receipts, bringing revenues to $412.8 million in November, down from $427 million in October.

Suez Canal

Suez Canal revenues fell to $412.8 million in November 2010 from $427 million in the previous month, Reuters reported.

The new figures imply that while the revenue growth has accelerated on an annual basis from seven per cent to about 13 per cent in October 2010, they fell by 3.3 per cent on a monthly basis, compared to a hike of 4.1 per cent in October 2010.

The Suez Canal Authority has yet to publish the data on its official website, where it provides information on the direction of traffic movements, tonnage and the number of vessels passing through it, according to Beltone Financials.

"The November out-turn was broadly in line with our forecast of $415 million, as we had expected the seasonal slowdown in trade movements to affect the Canal’s earnings," Beltone Financials commented.

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