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Friday, October 21, 2016

Suez August Revenue Tops Record

September 3, 2014

File Photo: Tanker in Suez Canal.

File Photo: Tanker in Suez Canal.

Revenues from Egypt's Suez Canal reached $508 million in August, the highest monthly level in history, Suez Canal Authority Chairman Mohab Mamish said on Wednesday.

The official Mena news agency quoted Mamish as saying that 2014 was set to be 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.


Reporting by Lin Noueihed and Omar Fahmy

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