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Monday, 11 April 2016

Suez Canal chief to hold international press conference to address falling Suez Canal revenues

Suez Canal Authority Chairman Mohab Mamish will hold an international press conference after King Salman’s visit ends to address “rumours” that revenues have fallen after plunging oil prices made the more roundabout route through the Cape of Good Hope more attractive than paying Suez Canal toll fees, according to Al Masry Al Youm. Mamish said revenues reached over EGP 37 bn in 2014, adding that imports in 1Q2016 have exceeded the levels reached in the same period in 2014 and 2015.

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