Suez Canal rev­enue down again Novem­ber

Business monthly (Egypt) - - IN BRIEF -

was an­other weak month for Suez Canal traf­fic, with rev­enues de­clin­ing year-on-year for the 10th month in a row. Rev­enues slipped to $408.4 mil­lion, com­pared to $442.8 mil­lion in Novem­ber 2014. This brings tolls for the first 11 months of 2015 to $4.75 bil­lion, com­pared to $5.02 bil­lion at the same point in 2014. The de­cline comes de­spite the suc­cess­ful Au­gust com­ple­tion of an ex­pan­sion project aimed at dra­mati- cally in­creas­ing canal traf­fic. Ex­perts at­tribute the de­cline to an eco­nomic slow­down and over­all down­turn in global ship­ping, which means fewer ves­sels are tran­sit­ing the canal and com­pet­ing ship­ping routes.

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