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Supervisor
Elham AbolFateh

Egypt

Officially… Suez Canal`s revenues up to $ 5.585 billion

Sunday 17/June/2018 - 02:30 PM
Ahmad El-Assasy
The Suez Canal`s revenues for the current financial year 2017-2018 increased by 11.5 percent to record 5.585 billion dollars، a statement on Suez Canal Authority website said on Sunday.

The statement said that the previous year's revenue was $ 5.008 billion.

However، the fiscal year is not over yet. The fiscal year begins in Egypt on July 1 and ends on June 30.

The Canal`s authority did not explain why the figures were released before the end of the fiscal year.

Noteworthy، the Suez Canal is the fastest shipping route between Europe and Asia and one of the Egyptian government's main sources of for foreign currency.

The Suez Canal is a sea level Canal and the height of water level differs slightly and the extreme tidal range is 65 cm in the north and 1.9 m in the south.

The banks of the Canal are protected against the wash and waves، generated by the transit of ships، by revetments of hard stones and steel sheet piles corresponding to the nature of soil in every area.

On both sides of the Canal، there are mooring bollards every 125 m for the mooring of vessel in case of emergency، and kilometric sign posts helping locate the position of ships in the waterway.


The navigable channel is bordered by light and reflecting buoys as navigational aids to night traffic.

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