Egypt's Suez Canal revenues $443.7 million in December

Ahram Online, Reuters, Sunday 15 Jan 2012

Last month's fees for country's vital waterway are up an annual 5 per cent, ahead of price hike in March

Suez Canal
Suez revenues continue to climb on monthly and annual bases (Photo: Reuters)

Revenue from Egypt's Suez Canal rose 4.8 per cent on a year earlier to $443.7 million in December, but up 1.9 per cent from a month earlier, the Egypt Information Portal website showed.

The canal's revenues in December 2010 were $423.4 million. Revenues in November 2011 were $435.5 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.

In December, the Authority said it would raise toll fees for all vessels passing through the strategic waterway by 3 per cent starting March 2012, saying tariffs had not been changed for the previous three years.

On 2 January, the canal took its highest daily revenues in history -- some $18.9 million generated from fees from the passage of 71 ships.

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