According to many specialists, the traffic through the Suez Canal has dropped in 2009 due to the global slowdown. But there are signs of recovery in 2010.

Despite tough economic conditions, Suez Canal's revenues only fell 0.5% in December 2009, totalling US$390m (with a traffic of 1,452 vessels registered), ‘the smallest year-on-year fall since November 2008 when faltering global trade began to hit shipping traffic’ according to Daily News Egypt.

According to an EFG-Hermes economist, Simon Kitchen, "It shows that trade volumes and revenues have stabilised since the first half of the year, but it will be some time before revenues and volumes approach levels seen in early 2008." In order to increase its monthly income, the Suez Canal Authority is considering raising transit rates starting April 2010.

Source: Daily News Egypt