Egypt's Suez Canal Revenues Hit $6.3b in 2021 vs $5.6b in 2020

Ships are seen at the entrance of the Suez Canal, Egypt March 26, 2021. REUTERS/Mohamed Abd El Ghany/File Photo
Ships are seen at the entrance of the Suez Canal, Egypt March 26, 2021. REUTERS/Mohamed Abd El Ghany/File Photo
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Egypt's Suez Canal Revenues Hit $6.3b in 2021 vs $5.6b in 2020

Ships are seen at the entrance of the Suez Canal, Egypt March 26, 2021. REUTERS/Mohamed Abd El Ghany/File Photo
Ships are seen at the entrance of the Suez Canal, Egypt March 26, 2021. REUTERS/Mohamed Abd El Ghany/File Photo

Egypt's Suez Canal revenues hit an all-time high in 2021 of $6.3 billion, versus $5.6 billion in 2020, canal spokesperson George Safwat said on Sunday.

Some 20,694 ships transited the canal in 2021, against 18,830 in 2020, a 10% increase, he added.

Earlier in December, the Suez Canal Economic Zone signed a $2.6 billion contract to build a methanol plant at Egypt's Ain Sokhna port and industrial complex.

The project will be executed in two phases, with completion of the first by 2025 at an investment cost of about $1.6 billion.

The second phase, with an estimated cost of about $1 billion, is to be completed over a further three years.

Targeted production capacity for the first phase is one million tonnes of methanol and 400,000 tonnes of ammonia per year.



Emirates First 'Airbus A350' Enters Commercial Service

Photo by WAM
Photo by WAM
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Emirates First 'Airbus A350' Enters Commercial Service

Photo by WAM
Photo by WAM

Emirates marked a significant milestone on Friday as its first Airbus A350 entered commercial service, operating its inaugural flight from Dubai to Edinburgh.

The aircraft, featuring Emirates' latest cabin products, is the first of 65 A350s joining the airline's fleet over the coming years, WAM reported.

Emirates has configured its A350 to provide three cabin classes, accommodating 312 passengers in 32 next-generation Business Class lie-flat seats, 21 Premium Economy seats, and 259 Economy Class seats.

In the coming months, Emirates will operate its Airbus A350 to eight more global destinations: Mumbai, Ahmedabad, Kuwait, Bahrain, Colombo, Lyon, Muscat, and Bologna.