Suez Canal achieves record $5.3B revenue in 2013/14 FY
A ship navigating the Suez Canal - YOUM7 (Archive)

CAIRO: Revenues from Suez Canal hit a record $5.3 billion during the 2013-2014 fiscal year, Chairman of Suez Canal Authority, Lt. Gen. Mohab Mamish told Youm7 Wednesday.

He added that the figure is the highest since the canal’s inauguration in 1896.

Mamish said the new record is a “sign of confidence of international navigation companies, ship owners and carriers.”

Over 16,500 ships passed through the canal in 2013 compared to17,224 ships in 2012 and 17799 ships in 2011, according to a Suez Canal Authority report published in June.

The revenues reached $ 468.8 million in May 2014 compared to $ 438.1 million in May 013 while it reached $ 442.4 million in April 2014, compared to $ 406.1 million in April 2013.

The canal is an important source of foreign currency, along with tourism, oil and gas exports, and is a major international shipping route.

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