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Egypt's Suez Canal revenues rose 14.2 per cent year-on-year between July and October, the canal authority said yesterday, citing calmer conditions in the Red Sea after a ceasefire in Gaza and a pickup in traffic through the vital waterway.
Suez Canal Authority chairman Osama Rabie said 229 ships returned to transit through the canal in October, the highest monthly figure since the start of the regional crisis, adding that traffic volumes and tonnage had shown a “relative improvement” in recent months.
From July to October, 4,405 vessels carrying 185 million metric tonnes passed through the canal, compared with 4,332 ships carrying 167.6m tonnes in the same period last year, Rabie told Reuters during a meeting with representatives from 20 major shipping lines in Ismailia.
Rabie said the positive atmosphere following last month’s Sharm El Sheikh summit on Gaza’s future had encouraged many carriers to resume using the canal.
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