Suez Canal Sees Revenues Fall in 2016

by Ship & Bunker News Team
Thursday January 19, 2017

Egypt's Suez Canal revenues in 2016 declined to $5.005 billion compared to $5.175 billion the previous year, Reuters reports.

Data from the Egyptian government Thursday showed the canal's revenues in the month of December totalled $414.4 million.

Last week, Ship & Bunker reported that the Suez Canal Authority (SCA) will be extending its discounts to container ships, which were originally announced in June 2016, until June 30, 2017.

SCA, along with the Central Bank of Egypt (CBE), has been reported to be in negotiations with several international shipping companies, including Maersk Line (Maersk), CMA CGM S.A. (CMA CGM), Mediterranean Shipping Company S.A. (MSC), Hapag-Lloyd AG (Hapag-Lloyd), China Ocean Shipping (Group) Company (COSCO), and Evergreen, for the prepayment of transit fees three to five years in advance.