EGYPT: Suez Canal is raking in the revenues

From: Middle East | Date: October 1, 2004| Author: | Copyright information

Before the US invasion of Iraq last year, Egypt's Suez Canal Authority predicted that a fully-fledged war in the Middle East would disrupt regional maritime traffic, slashing canal revenues by 10% or more. In reality, exactly the opposite has happened. By Larry Luxner.

THE SUEZ CANAL IS IN THE MIDST OF booming volumes, sparked by a jump in Chinese exports to Europe and, to a much lesser extent, US military cargo bound for Iraq.

East year, the Suez Canal generated $2.57bn in revenues - the highest in the canal's 135-year history - as 15,634 ships transited the waterway with a combined cargo of ...

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