Suez Revenue Booms

In the first seven months of the financial year of 2014/2015, the Suez Canal has generated a staggering US$3.2bn in revenue, while setting an all-time record for revenue in August 2014 of around $510 million.

The Suez Canal’s total revenue reached around $5.5bn in 2014 – an 11% increase from 2013.

Construction work at the Suez Canal is now 67.5% complete with the total estimated infrastructure cost expecting to reach around $15bn.

The completed canal aims to expand trade along the fastest container trade route between Europe and Asia and increase annual revenue to around $13bn.

A police department has also been set up around the canal recently in a bid to combat the growing number of threats posed to shippers.

(Source: Mereja)