Suez Canal chief says April revenues hit all-time record

CAIRO (AP) — Egypt’s Suez Canal says its monthly revenues  have hit an all-time record, raking in $629 million in April. The unprecedented income came as the Suez Canal in March increased transit fees for ships passing through the waterway. The head of the Suez Canal Authority said in a statement Sunday that 1,929 vessels sailed through the Suez Canal last month, compared to 1,814 in April 2021. The canal head said the revenues rose by 13.9% compared to April last year when the crucial waterway received $553.6 million. About 10% of global trade, including 7% of the world’s oil, flows through the Suez Canal, which connects the Mediterranean and Red seas.