Egypt's Suez Canal revenues decline by 24 percent y/y in H1

Daily News Egypt
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CAIRO: Egypt s Suez Canal revenues declined by about Egypt s Suez 24 percent y/y to reach $2 billion in H1 of the year, an official of Egypt s Suez Canal Authority said.

Suez Canal’s Administration attributed this retreat to the impact of global financial results, the decline in international trade movement and the relative effect of piracy which led some of international navigation companies to shift its directions away from the Canal.

However, the Canal authority said there is a relative stability in revenues’ retreat ratio during the past three months of the year. – MENA

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