Suez Canal reports revenue rise

The Suez Canal Committee announced its highest revenue of the year during the last week of July, which reached $108.2 million.

The Canal reported that its last fiscal year, which ended in June, brought revenues of $5.753 billion with a 3.11 percent increase from the previous year.

The committee said that the increase is most probably due to the growth in European and Asian markets’ trade in addition to the discounts that the Canal offers to certain ships carrying natural gas, which encouraged more to cross the Canal and generated more traffic.