11,721 ships crossed Suez Canal in 9 months: SCA
New Suez canal

CAIRO: A total of 11,721 ships, carrying cargo weighting 68, 5953 tons, have crossed Suez Canal from January to September, Chairman of the Suez Canal Authority (SCA) Mohab Mamish said in Friday statements.

The cargo of the ships crossed the canal during the first nine months of 2015 included 2578 oil tankers with 10, 4626 tons, 279 natural gas tankers with 30, 148 tons and 1,912 vessels with 68247 tons, according to Mamish.

Further, some 943 cargo ships crossed during the same period with 10, 481 tons, in addition to 4,501 container vessels with 419, 426 tons, 223 vessels loaded with tractors of 5,804 tons, 699 vessels loaded with vehicles of 42, 234 tons, 36 passenger ships of 1, 876 tons and a joint tanker of 61, 000 tons.

An October report by the SCA said that the revenues of Suez Canal dropped to $448.8 million in September, from $462.1 million in August.

The waterway is one of Egypt’s core sources of income, providing about 10 percent of the nation’s hard currency. In 2014, Suez Canal revenues registered $5.456 billion, marking 6.75 percent growth compared to $5.111 billion a year earlier.

In August, President Abdel Fatah al-Sisi inaugurated the multi-billion dollar project of the “New Suez Canal” a year after its launch.

Egypt hopes the expansion project, which provided a new 72-kilometer canal parallel to the old one, to speed up transit time, bolster the country’s limping economy and boost annual revenue up to $13.5 billion by 2023.

In 2014, the canal revenues amounted to $5.4 billion.

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