Egypt: Suez Canal revenues since 1975 at $64 billion

Egypt: Suez Canal revenues since 1975 at $64 billion

CAIRO: Mahmoud Abdel-Wahab, a spokesman for Egypt’s Suez Canal Authority, said that global trade is on track to rebound this year and the Suez Canal is set to see a return to pre-economic crisis levels. He said that the current indicators available point to the improvement in the rates of transit, where the number of vessels crossing the Suez Canal in some days, exceeded 60.

He explained that the number of vessels transiting is increasing and are already achieving high rates compared to the same periods last year, in addition to the clear improvement in monthly revenue.

In the same context, according to the statistics issued by the Suez Canal Authority, the Canal since re-opening for navigation on June 5, 1975 until the end of January 2010, it has achieved revenues of approximately $64 billion.

Sources close to the canal told local newspapers that the total number of vessels transiting the canal during this period amounted to 612,644 for the shipping and cargo movement in transit during the same period amounted to 1.471 trillion tons.

**reporting by Mohamed Abdel Salam