Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    McDonald’s to open 10,000 stores by 2027, embracing AI technology

    December 7, 2023

    UAE hosts Russian president in landmark state visit

    December 7, 2023

    Start your day right with complex carbs to enhance weight loss and blood sugar control

    December 5, 2023
    Facebook X (Twitter) Instagram
    Arab OutlookArab Outlook
    • Automotive
    • Business
    • Entertainment
    • Health
    • Luxury
    • Lifestyle
    • News
    • Sports
    • Technology
    • Travel
    Arab OutlookArab Outlook
    Home » Suez Canal revenue hits highest record at $704 million in July 2022
    Business

    Suez Canal revenue hits highest record at $704 million in July 2022

    August 2, 2022
    Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp VKontakte Email

    The revenue from the Suez Canal for Egypt in July amounted to $704 million, according to the chairman of the Suez Canal Authority, Osama Rabea, on Tuesday. According to Rabea, the Canal has reached its highest transit rate of 2,103 vessels per month. It has also reached its highest net tonnage of 125.1 million tonnes per month.

    Suez Canal revenue hits highest record at $704 million in July 2022In the financial year to June 30, Egypt’s Suez Canal revenue hit a record high of $7 billion, up 20.7% from the previous year. In a statement, the authority attributed the increase to an increase in vessel numbers and cargoes. This resulted in total cargoes reaching a record high of 1.32 million tonnes, up 10.9% from 2020/21.

    A total of 22,032 vessels transited the canal, an increase of 15.7%. A major source of foreign currency for the Egyptian government, the canal is one of the fastest shipping routes between Europe and Asia. The canal’s expansion in 2015 resulted in a limited increase in revenue, and a further expansion is scheduled for completion in 2023. A second expansion was announced in March last year, aiming to boost global trade even further.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email

    Related Posts

    McDonald’s to open 10,000 stores by 2027, embracing AI technology

    December 7, 2023

    Innovative construction solutions unveiled at Dubai’s Big 5 Global

    December 5, 2023

    Economic uncertainty spurs unprecedented demand for gold.

    December 3, 2023

    Global oil dynamics shift as OPEC+ agrees on 2 million bpd cut

    November 30, 2023
    Latest News

    McDonald’s to open 10,000 stores by 2027, embracing AI technology

    December 7, 2023

    UAE hosts Russian president in landmark state visit

    December 7, 2023

    Start your day right with complex carbs to enhance weight loss and blood sugar control

    December 5, 2023

    Innovative construction solutions unveiled at Dubai’s Big 5 Global

    December 5, 2023

    UAE and Morocco forge new path with innovative partnership declaration

    December 5, 2023

    $9 billion boost from Global Fund for climate-impacted health systems

    December 5, 2023

    Shaping tomorrow’s technology today with the top 11 companies leading the AI revolution

    December 3, 2023

    New York, L.A., and San Francisco among the world’s most expensive

    December 3, 2023
    © 2021 Arab Outlook | All Rights Reserved
    • Home
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.