Saturday, 04 December 2021 05:19 GMT

Revenues of Egypt's Suez Canal increase 11.6 percent in 8 months of 2021

(MENAFN) The revenues of the canal in the January-August period of 2021 increased by 11.6 percent annual to USD4.09 billion, according to Egypt's Suez Canal Authority (SCA).

The SCA further declared that some 13,317 vessels passed through the canal from the mentioned period of the year, in comparison with 12,482 ships in 2020, increased by 6.7 percent.

The boost in revenues came as the SCA was carrying out a plan to extend and deepen the southern part of the canal.

The Suez Canal is a major lifeline for global seaborne trade since it consents to ships to travel amid Europe and South Asia without navigating around Africa, thereby declining the sea voyage distance by about 7,000 km.

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