Sunday, Dec 04, 2011
(This story was originally published Thursday.)
CAIRO (Zawya Dow Jones)--Egypt's Suez Canal Authority will increase charges for all types of vessels passing through the waterway by 3%, effective from March 2012, the Authority said Thursday.
The decision followed a study of the global economy and its impact on trade through the Suez Canal, a statement from the Authority said, without providing further details.
Revenue from Egypt's Suez Canal rose 4.8% to $447.9 million in October, compared to a year earlier, according to the latest data from the Authority.
That is also an increase of 2.2% from a month earlier, when revenues stood at $438.3 million.
The authority also said cargo traffic increased by 8.4% in October, compared to the same month last year.
-By Farah Halime; Contributing to Dow Jones Newswires;
Fhalime@gmail.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
04-12-11 0350GMT
