Cairo – Mubasher: Egypt’s revenues from Suez Canal fell by $32.1 million to $5.72 billion during fiscal year 2019/2020 from $5.75 billion a year earlier, the Suez Canal Authority revealed.
The slight drop in revenue was ascribed to the slowdown in international trade by 18.5% during the second quarter (Q2) of 2020, along with the impact of the coronavirus (COVID-19) pandemic on the marine transportation market, according to a statement on Saturday.
During FY19/20, a total of 19,311 vessels crossed Suez Canal, up by 4.5% from 18,482 in the previous fiscal year.
The total net tonnage reached 1.21 billion tonnes in the last fiscal year, rising by 3.1% from 1.17 billion in FY18/19.
