Egypt announced on Tuesday that revenues from the Suez Canal dropped by 25% in the last fiscal year, which ended in June, largely due to ongoing regional tensions. A report from the Central Bank of Egypt revealed that Suez Canal revenues amounted to $6.6 billion, down from $8.8 billion in the p...
Recent maritime data reveals a staggering 66% decline in vessels transiting the Suez Canal, as shipping companies divert their routes around Africa in response to escalating Houthi attacks in the Red Sea. According to a report by Danish shipping giant A.P. Moller-Maersk, monitored by Barr...
The Republic of Egypt confirmed on Thursday, July 18, 2024, a 23.5% decline in Suez Canal revenue during the past fiscal year ending in June, reaching $7.2 billion. This downturn is attributed to the ongoing crisis of attacks by the Houthi group, internationally classified as a terrorist organizat...
The Suez Canal Authority announced a significant drop in revenue for the 2023-2024 fiscal year, losing approximately $2.1 billion due to Houthi attacks in the Red Sea. Egyptian media reported on Tuesday, July 16, 2024, that the canal's revenue fell by 23%, reaching a total of $7.223 billion...
The Suez Canal Authority (SCA) has unveiled a marketing plan, described as a "flexible strategy," aimed at mitigating the impact of the Houthi crisis on global supply chains, according to SCA Chairman Lieutenant General Osama Rabie. Since November 19, 2022, the Houthi group, designate...