THE Suez Canal posted 15.9 per cent fewer transits to 248 vessels with toll revenue falling nine per cent year on year to US$405 million in January, reports London's Containerisation International.

Although the Egyptian Army had protected the canal administration buildings at Port Said where riots have broken out, the threat of disturbances has deterred ships using the canal last month.

The Suez Canal Authority conceded that a two- to five-per cent increase in fees for ships using the artery from May 1 may have also prompted shipping to take the Cape of Good Hope route to avoid the fee.