{"id":562390,"date":"2021-05-23T04:06:46","date_gmt":"2021-05-23T04:06:46","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/suez-receipts-rise-in-april-following-ever-given-debacle\/"},"modified":"2021-05-23T04:06:46","modified_gmt":"2021-05-23T04:06:46","slug":"suez-receipts-rise-in-april-following-ever-given-debacle","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/suez-receipts-rise-in-april-following-ever-given-debacle\/","title":{"rendered":"Suez receipts rise in April following Ever Given debacle"},"content":{"rendered":"

<\/a> Suez Canal revenues rose almost 16% y-o-y in April<\/strong>, coming in at USD 551.5 mn from the USD 476.2 mn recorded during the same month last year, the Suez Canal Authority said in a statement<\/a> Thursday. The number of ships passing through the Canal also rose by some 4.8% to 1,814 ships, compared to 1,731 during the same month last year, the authority said.<\/p>\n

A rebound from a dismal March:<\/strong> The rise in revenues from the Suez Canal \u2014 a key source of foreign currency that was already hit hard by the pandemic \u2014 came after the Ever Given mega container vessel blocked the waterway for six days at the end of March, causing the government to miss out on an estimated some USD 90 mn in revenues<\/a>. Receipts fell to USD 439.4 mn during the month from USD 474.1 mn in February.<\/p>\n

Receipts hit pre-covid levels at the end of last year:<\/strong> Suez Canal revenues were only fractionally below pre-pandemic levels in 4Q2020, coming in at USD 1.51 bn<\/a> from USD 1.52 bn in the same period in 2019.<\/p>\n

The recovery in receipts comes as an Ismailia court is due to announce two <\/strong>separate verdicts related to the Ever Given today:<\/strong> The first ruling is on the Suez Canal Authority\u2019s (SCA) USD 600 mn compensation claim for the losses incurred by the mega vessel blocking the waterway, while the second is the court\u2019s verdict on Ever Given owner Shoei Kisen\u2019s appeal against the ship\u2019s seizure, Bloomberg<\/a> reports.<\/p>\n

Could things go Shoei Kisen\u2019s way?<\/strong> The ship owner\u2019s lawyers argued at a court hearing yesterday that the SCA was at fault for allowing the ship to enter the canal in the midst of a storm and without tugboats accompanying it through the route, Reuters<\/a> reports. The lawyers also argued that dislodging the Ever Given from the canal\u2019s banks was part of the SCA\u2019s responsibilities as per their traffic contract, meaning the entire ordeal should not be technically classified as a \u201csalvage operation,\u201d and the SCA should not be seeking compensation. The ship\u2019s black box also reportedly showed the ship\u2019s captain and the SCA\u2019s pilot \u2014 who was on board the ship \u2014 were at odds over how to steer the ship through the canal, according to Al Shorouk<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Suez Canal revenues rose almost 16% y-o-y in April, coming in at USD 551.5 mn from the USD 476.2 mn recorded during the same month last year, the Suez Canal Authority said in a statement Thursday. The number of ships passing through the Canal also rose by some 4.8% to 1,814 ships, compared to 1,731 […]<\/p>\n","protected":false},"author":1,"featured_media":562391,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8996],"tags":[72,134,2234,8835,3936,7103,133],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-562390","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-suez-canal","tag-enterpriseam","tag-ever-given","tag-foreign-exchange","tag-maritime","tag-shoei-kisen","tag-suez-canal","tag-suez-canal-authority","wpautop","entry"],"acf":{"mongo_id":"7ed03395-bc76-4d2d-b6be-ea9d0bbbc85d","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/5\/189.jpg","photo_position":"above","related_issue":[562376],"teaser":"","voice_url":""},"yoast_head":"\nSuez receipts rise in April following Ever Given debacle - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/suez-receipts-rise-in-april-following-ever-given-debacle\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Suez receipts rise in April following Ever Given debacle\" \/>\n<meta property=\"og:description\" content=\"Suez Canal revenues rose almost 16% y-o-y in April, coming in at USD 551.5 mn from the USD 476.2 mn recorded during the same month last year, the Suez Canal Authority said in a statement Thursday. The number of ships passing through the Canal also rose by some 4.8% to 1,814 ships, compared to 1,731 […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/suez-receipts-rise-in-april-following-ever-given-debacle\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-23T04:06:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/189.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/suez-receipts-rise-in-april-following-ever-given-debacle\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/suez-receipts-rise-in-april-following-ever-given-debacle\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Suez receipts rise in April following Ever Given debacle\",\"datePublished\":\"2021-05-23T04:06:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/suez-receipts-rise-in-april-following-ever-given-debacle\/\"},\"wordCount\":380,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/suez-receipts-rise-in-april-following-ever-given-debacle\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/189.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"Ever Given\",\"foreign exchange\",\"maritime\",\"Shoei Kisen\",\"Suez Canal\",\"Suez Canal Authority\"],\"articleSection\":[\"Suez Canal\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/suez-receipts-rise-in-april-following-ever-given-debacle\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/23\/suez-receipts-rise-in-april-following-ever-given-debacle\/\",\"name\":\"Suez receipts rise in April following Ever Given debacle - 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of last year, reports Reuters.","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":629171,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/23\/suez-canal-revenues-jump-to-usd-479-3-mn-in-april\/","url_meta":{"origin":562390,"position":1},"title":"Suez Canal revenues jump to USD 479.3 mn in April","author":"enterpriseam admin","date":"23 May 2018","format":false,"excerpt":"Suez Canal revenues increased to USD 479.3 mn last month, up from USD 463 mn in March, Reuters reports.","rel":"","context":"In "Egypt Politics + Economics"","block_context":{"text":"Egypt Politics + 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Revenues reportedly dropped from USD 473.9 mn one month prior.","rel":"","context":"In "Egypt Politics + Economics"","block_context":{"text":"Egypt Politics + Economics","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-politics-economics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":634144,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/08\/suez-canal-revenues-rise-5-4-in-2017\/","url_meta":{"origin":562390,"position":4},"title":"Suez Canal revenues rise 5.4% in 2017","author":"enterpriseam admin","date":"8 January 2018","format":false,"excerpt":"Suez Canal revenues rose 5.4% y-o-y in 2017 to USD 5.3 bn, up fractionally from USD 5 bn in 2016, Al Borsa reports. The canal saw increased traffic throughout the year with ships carrying heavier cargo loads, Suez Canal Authority head Mohab Mamish said.","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":627945,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/19\/suez-canal-revenues-rise-11-5-y-o-y-during-fy2017-18\/","url_meta":{"origin":562390,"position":5},"title":"Suez Canal revenues rise 11.5% y-o-y during FY2017-18","author":"enterpriseam admin","date":"19 June 2018","format":false,"excerpt":"Also good for the nation\u2019s finances: Record Suez Canal revenues. Suez Canal revenues rose 11.5% y-o-y during FY2017-18 to USD 5.585 bn, up from USD 5.008 bn in FY2016-17, according to the Suez Canal Authority. The canal\u2019s revenues during the current fiscal year mark an all-time high, authority chief Mohab\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/562390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=562390"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/562390\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/562376"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/562391"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=562390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=562390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=562390"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=562390"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=562390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}