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Suez Canal Revenues Up 6.5% in 1st Quarter of 2016

Source: www.gulfoilandgas.com 4/17/2016, Location: Africa

President Abdel Fattah El Sisi held a meeting with head of the Suez Canal Authority Mohab Mamish.

Presidential Spokesman Alaa Youssef said during the meeting, Mamish reviewed indicators of growth in the world trade by sea and the increase in trade movement passing through the Suez Canal over the past period.

As many as 17,483 ships transited the Suez Canal in 2015, up tw percent, compared to 2014, Mamish said.

The revenues of the Canal increased by three percent to 1.15 billion pounds in 2015, he added.

The revenues in the first quarter of 2016 increased to 592.4 million pounds, up 6.5 percent compared to the same period in 2015, he added.

Mamish also reviewed efforts exerted by the authority to complete the digging of New Eastern Port Said Canal, which was opened in February 2016.

For his part, the president lauded the efforts of the authority at the level of development and the expansion of its activities. He praised its contribution to serving the community in the canal cities.

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