Egypt Suez Canal Revenues slip 2% to $381.4 Mln In February

Monday, Mar 12, 2012

(This story was originally published Sunday.)

CAIRO (Zawya Dow Jones)--Revenue from Egypt's Suez Canal, the country's main waterway and a vital source of foreign currency, slipped 2% on year in February, according to data posted on Suez Canal Authority website.

Revenues fell to $381.4 million last month from $388.7 million in February 2011, the data showed. Revenue in January 2012 stood at $445.8 million.

In December, the canal's authority said it would raise toll fees for all vessels passing through the strategic waterway by 3% starting March 2012, and said tariffs had not been changed for the previous three years.

-By Farah Halime; Contributing to Dow Jones Newswires; Fhalime@gmail.com

Copyright (c) 2012 Dow Jones & Co.

(END) Dow Jones Newswires

12-03-12 0353GMT