Shipping containers are seen on a ship, belonging to Ocean Network Express (ONE), moving through the Suez Canal in Suez, Egypt February 15, 2022. Picture taken February 15, 2022. REUTERS/Mohamed Abd El Ghany
CAIRO May 21 (Reuters) – Egypt expects the Suez Canal’s revenues to reach about $7 billion by the end of the current fiscal year, finance minister Mohamed Maait said on Saturday.
Tourism revenues are expected to reach between $10 billion and $12 billion by then, despite the Ukrainian crisis, he added. Egypt’s fiscal year runs from July 1 to June 30.
The canal is the fastest shipping route between Europe and Asia and one of the Egyptian government’s main sources of foreign currency.
Reporting by Ahmed Ismail, Writing by Moataz Mohamed, Editing by Andrew Heavens
(c) Copyright Thomson Reuters 2022.
Join the 93,887 members that receive our newsletter.
Have a news tip? Let us know.
Loaded exports are helping to support overall volumes at Port Houston’s container terminals as loaded import volumes fall compared to record levels in 2022. Export volumes at Port Houston have...
Seafarers’ unions and maritime employers have signed a four-year agreement that includes significant wage increases and workplace protections for over 250,000 seafarers. The International Bargaining Forum (IBF) has agreed on...
SINGAPORE, Sept 26 (Reuters) – The cost of chartering a supertanker to load Middle Eastern crude oil for Asia has rebounded from a 19-month low in September, but industry sources expect output...
Maritime and offshore news trusted by our 93,887 members delivered daily straight to your inbox.
