Revenues at Egypt’s Suez Canal rose eight per cent to $374.9m in April 2010 compared to the $346.9m in revenues it recorded the year before.

The total number of vessels passing through the waterway in April was 1,466 compared to 1,482 vessels that passed through the canal in April 2009, according to the Suez Canal Authority.

Revenues at the canal stood at $379.4m in March 2010, compared to $327.9m in 2009.

The Suez Canal Authority has achieved total revenues of $1.1bn for the first quarter of 2010.

Total revenues at the Suez canal are expected to increase 2.9 per cent year-on-year to $4.9bn in the first half of 2010, according to local investment bank EFG-Hermes (MEED 13:1:10).

The waterway is one of Egypt’s main sources of revenue along with tourism, petroleum exports and remittances from Egyptians living overseas.