Suez Canal USD revenues were up 0.2% year on year in 1Q16 to USD 1.3 bn, or an increase of USD 3 mn, said Mohab Mamish, head of the Suez Canal Authority. Revenues in EUR were also up 2.4% to EUR 1.2 bn for the period, said Mamish during a visit by a delegation from the House of Representatives on Wednesday, Al Shorouk reports. Currency basket revenues counted in Special Drawing Rights (SDR) unit were up 0.6% to 884.2 SDR, Mamish added. Mamish’s statements were not accompanied by a detailed accounting of the results or whether March’s devaluation was accounted for. As we noted earlier this month, the Suez Canal Authority did not provide USD-denominated revenues in March and February.  As for EGP, Mamish stated that revenues were up 6.5% year on year for the quarter to EGP 9.8 bn, up from EGP 9.2 in 1Q15. These reported gains come on the back of a 2.7% rise in the number of ships passing through to 4,178, up from 4,067 ships in 1Q15. This data flies in the face of numerous reports that traffic has decreased as a result of a global slump in trade and the prominence of alternate shipping routes due to falling oil prices.