Mamish: Suez Canal revenues up 6.5% in 1st quarter of 2016

President Abdel Fattah El Sisi held a meeting on Saturday with head of the Suez Canal Authority Mohab Mamish.

During the meeting, Mamish reviewed the indications of the growth in the world trade by sea and the increase in the trade passing through the Suez Canal during the last five years, Presidential Spokesman Alaa Youssef said.

As many as 17,483 ships transited the Suez Canal in 2015, up 2 percent, compared to 2014, Mamish said.

The revenues of the Canal increased by 3 percent to 1.15 billion pounds in 2015, he added.

The revenues in the first quarter of 2016 increased by 592.4 million pounds, up 6.5 percent compared to the same period in 2015, he added.

Mamish also reviewed efforts exerted by the authority to complete the digging of New Eastern Port Said Canal, which was opened in February 2016. 

Mamish also highlighted the authority's efforts to re-float a Panamanian ship that ran aground in Suez Canal on February 25.

For his part, the president lauded the efforts of the authority at the level of institutional development and the expansion of its activities.

He praised its contributions to serving the community in the canal cities.