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Suez Canal revenues rise to 5.1 billion dollars in 10 months

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Cairo, Oct 28 (Prensa Latina) Suez Canal revenues rose to 5.1 billion dollars in the first 10 months of 2021, an increase of 12.6 percent year-on-year, an official Egyptian source reported on Thursday.

Suez Canal Authority Chairman Osama Rabie said in a communique that 16,661 vessels crossed the canal from January to October 25, an increase of 8.8 percent.

Traffic also increased during the same period by 8.5 percent, amounting to 1.029 billion tons.

The rise in revenues came despite the effects of the Covid-19 pandemic on the world trade and the closure of the canal for six days in March due to a container ship accident, the text stated.

On September 29, the Suez Canal recorded its highest daily transit rate in its history with 87 ships in both directions, carrying a cargo net weight of 4.8 million tons.

Built between 1859 and 1869, the 163-kilometer long Suez Canal is a man-made sea-level waterway, connecting the Mediterranean Sea to the Red Sea.

According to official data, 10 percent of the world trade volume passes through that man-made canal.

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