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Suez Canal Achieves Highest Revenues Since 2011

Source: www.export-egypt.com  4/5/2012, Location: Africa

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Suez Canal posted single day revenue of LE 122 million, according to Suez Canal Authority Chief Ahmed Fadel. These were the highest recorded revenues since 2011, he added, noting that the international waterway also hit a record in terms of transiting vessels. As many as 59 ships transited the Suez Canal, carrying a total cargo of 3.47 million tons, he noted. The north-bound convoy included 29 ships, while the south-bound convoy included 30 vessels, he added. The waterway is a vital source of foreign currency in Egypt, along with tourism, oil and gas exports and remittances from Egyptians living abroad. The unique geographical position of the Suez Canal makes it of special importance to the world and to Egypt as well.

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