The Suez Canal saw a Year on Year increase in its traffic by 4% in the fiscal year (FY) 2019/2020, according to the Cabinet’s media center.
The canal’s revenues slightly fell to $5.7 billion (EGP 90.80 billion) in FY 2019/2020, compared to $5.8 billion ( EGP92.39 billion) reported year earlier.
The decline is mainly attributed to a coronavirus-fulled drop in the world trade traffic by 18.5% in the second quarter of 2020.
In May, the Suez Canal Authority reduced fees for all container ships crossing the canal.
Source: Arab Finance