Egypt's Suez Canal revenues hit all-time high in April
EconomyEgypt's Suez Canal revenues hit all-time high in April
Egypt's Suez Canal revenues hit all-time high in April - Photo by AA.
Cairo (Times Of Ocean)- Egypt's Suez Canal Authority announced Sunday that its monthly revenues hit an all-time high in April.
The Suez Canal Authority announced that the waterway made $629 million in revenues in April, an increase of 13.6% from $553.6 million last year.
As global trade booms, the strategic waterway has raised the transit fees for ships since last year.
The Suez Canal recorded its highest revenues in 2021, bringing in $6.3 billion.
A giant shipping vessel called Ever Given ran aground in the Suez Canal last year and blocked the waterway for nearly six days.