[IsraelTimes] Egypt’s Suez Canal says its monthly revenues hit an all-time record, raking in $629 million in April.The unprecedented income came as the Suez Canal in March increased transit fees for ships passing through the waterway.
Adm. Ossama Rabei, head of the Suez Canal Authority, says in a statement that 1,929 vessels sailed through the Suez Canal last month, compared to 1,814 in April 2021.
He says the revenues rose by 13.9% compared to April last year, when the crucial waterway received $553.6 million.
About 10% of global trade, including 7% of the world’s oil, flows through the Suez Canal, which connects the Mediterranean and Red seas.
The canal, which opened in 1869, is a major source of foreign currency to Egypt.
The annual revenues of the canal reached $6.3 billion in 2021, the highest in its history. The Canal said 20,649 vessels passed through the waterway last year, a 10% increase compared to 18,830 vessels in 2020.
The shipping industry is still under pressure from the coronavirus (aka COVID19 or Chinese Plague)
...the twenty first century equivalent of bubonic plague, only instead of killing off a third of the population of Europe it kills 3.4 percent of those who notice they have it. It seems to be fond of the elderly, especially Iranian politicians and holy men...pandemic and Russia’s war on Ukraine has already added to global economic concerns.