Suez Canal: Traffic Slumps In First Quarter
•Egypt’s Suez Canal, a key source of hard currency for the cash-strapped country, saw transit volumes and revenues slide in the first quarter 2013 compared to a bumper 2012. First quarter revenues were the worst since the second quarter of 2010. For March takings were $398.5m (see graph). Revenues were down 8% on the previous quarter, whilst the number of vessels fell by 7%. The number of oil tankers transiting the...
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