Suez Canal Revenues Fall

Revenues from fees paid by ships passing through the Suez Canal have fallen by 4.2% in the first nine months of the financial year 2016/2017, according to an official statement by the Central Bank of Egypt, Amwal Al Ghad reported. Receivables amounted to $3.7 billion between July 2016 and March 2017, down from $3.9 billion in the year-ago period. The CBE attributed the decline to lower net tonnage of transiting vessels by 1.7%, added to a drop in the value of a single special drawing rights unit against the US dollar by 1.6%.