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Suez Canal revenue climbs 5%

Staff Writer |
Revenue in Egypt’s Suez Canal reached $470.6 million in August, up 5.1% year-on-year, Suez Canal Authority chairman Mohab Mamish was quoted by Al Ahram as saying.

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Revenue also increased in August compared with June and July 2017.

The canal connecting the Mediterranean and Red seas is the fastest sea route between Europe and Asia. It’s also one of Egypt’s primary revenue sources, alongside tourism.

Al Ahram reported that 1,528 ships passed through the canal in August, up 4.5% from 1,462 ships in August 2016.

The Egypt Independent website, the English version of newspaper Al-Masry Al-Youm (The Egyptian Today), cargo throughput stood at 91.5 million tons, up 4.2% year-on-year.

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