Egypt's revenues from the Suez Canal almost halved in January due to attacks by Yemeni Houthis on ships in the Red Sea. Large shipping companies began to avoid this waterway. This was announced by the head of the Suez Canal Authority Osama Rabi, Bloomberg reports, according to UNN.
Details
According to CEO Osama Rabi, last month's revenue amounted to about $428 million. This is down from $804 million in the same period in 2023. According to him, the number of ships passing through the Suez Canal decreased by 36%.
The Suez Canal is the shortest sea route between Asia and Europe, as well as an important source of foreign exchange for Egypt, and last year the canal brought the country a profit of about $10.25 billion. THE US.
Prior to the Yemeni Houthis' attacks on ships in the Red Sea at the end of last year, Egypt was working to expand the waterway in the Suez Canal.
It is noted that a number of shipping companies, in particular, such giants as A.P. Moller - Maersk A/S and Hapag-Lloyd AG, have decided to redirect their ships to bypass Africa.
Recall
The Iranian-backed Houthis in Yemen, who began attacking merchant ships in response to the conflict in Gaza, are not letting up even after the United States and its allies launched airstrikes on January 12 to contain them.