CAIRO: The Suez Canal Authority reported the canal achieved during the month of July revenues Totaling $406.2 million as a result of 1,554 ships crossing the canal in the month. It comes as an Egyptian-run vessel flying the Panama flag was hijacked earlier this month, but the authority is confident that shipping companies are again beginning to use the waterway despite continued threats from Somali piracy. The SCA reported tonnage transported through the canal amounted to $71.9 million worth, an increase of 23.3 million from the same month last year, when the canal reported $64.9 million worth of transported goods. The navigational statistics of the Suez Canal Authority stated on Sunday that the increase in the revenues during the month of July amounted to 6 percent, compared to the corresponding period last year, in addition to an increase in cargo totaling 7 tons and an increase in the number of ships crossing the canal by 33 ships. The Suez Canal, which is one of the top sources of national income of Egypt has achieved during the fiscal year (2009/2010), which ended in June, revenues amounting to $4.542 billion, equivalent to 25.049 billion Egyptian pounds. BM
