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		</div><p>Bosses of Egypt’s Suez Canal said on Sunday that its monthly revenues hit an all-time record in April, raking in $629 million (€596.4 million).</p>
<p>The unprecedented income came after transit fees for ships passing through the waterway were increased in March.</p>
<p>Admiral Ossama Rabei, head of the Suez Canal Authority, said in a statement that 1,929 vessels sailed through the Suez Canal last month, compared with 1,814 in April 2021.</p>
<p>He said revenues rose by 13.9 per cent compared with April last year when the crucial waterway received $553.6 million dollars.</p>
<p>About 10 per cent of global trade, including 7 per cent of the world’s oil, flows through the Suez Canal, which connects the Mediterranean and Red Seas.</p>
<p>The canal, which first opened in 1869, is a major source of foreign currency for Egypt.</p>
<p>The waterway’s annual revenues reached $6.3 billion in 2021, the highest in its history.</p>
<p>Officials said 20,649 vessels passed through the canal last year, a 10 per cent increase on 18,830 in 2020.</p>
<p>The shipping industry is still under pressure from the Covid-19 pandemic, and Russia’s war on Ukraine has added to global economic concerns.</p>
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