Suez Canal announces record annual revenues of $ 5.585 billion

The Suez Canal Authority's revenues for the current fiscal year 2017-2018 increased 11.5% to a record level of 5.585 billion dollars, the statement said, adding that the previous year's revenues were $ 5.008 billion.

However, the financial year is not yet over. The fiscal year begins in Egypt on July 1 and ends on June 30. The channel did not explain why the figures were released before the end of the fiscal year.

The head of the Suez Canal Authority, General Director of the Suez Canal Authority, Mohab Mamesh, said that during the last 10 days from Wednesday before last until Friday, 536 ships with 34.8 million tons of cargo crossed.

In a press statement, the team confirmed that the record recorded by the channel's traffic is an important indicator that reflects the improvement in the global trade movement, the development of the maritime transport industry and the global arsenals of the giant ship industry. The new Suez Canal project, which has succeeded in raising the classification of the channel globally by increasing its numerical and absorptive capacity, in addition to pursuing attractive marketing policies to encourage the major shipping lines to use the Suez Canal instead of alternative routes.