Suez Canal, Egypt and Red Sea

Suez Canal revenue down 60%, but Red Sea outlook may be changing
Suez Canal revenues have suffered an abrupt 60% decline y/y as vessel operators divert services away from the Red Sea. The post Suez Canal revenue down 60%, but Red Sea outlook may be changing appeared first on FreightWaves.
Red Sea Crisis Costs Egypt $7 Billion in 2024 as Suez Revenues Sink
In November, 115 container vessels passed through the canal, a 72 percent drop from the 422 that passed through a year ago, says Project44.
Regional challenges cost Egypt around $7 billion of Suez Canal revenues in 2024, Sisi says
Events in the Red Sea and regional challenges cost Egypt around $7 billion in revenues from the Suez Canal in 2024, Egyptian President Abdel Fattah al-Sisi said on Thursday. Egypt lost more than 60% of the canal's revenues in 2024 compared with 2023,
Suez Canal Revenue Dwindles Amidst Regional Challenges
Egyptian President Abdel Fattah al-Sisi announced on Thursday that regional challenges are expected to cost Egypt approximately $7 billion in lost revenues from the Suez Canal in 2024. This represents a more than 60% drop in the canal's revenues compared to the previous year,
Red Sea crisis costs Egypt $7bn as Suez Canal revenues plummet
Diverting shipping away from the Suez Canal cost Egypt nearly $7bn this year as revenues dropped by 60% year over year. The figures emerged following a meeting on Thursday between Egyptian president Abdel Fattah El-Sisi and the chairman and managing director of the Suez Canal Authority, Admiral Ossama Rabiee.
Egypt Suez Canal revenues fall by over 60% in 2024 due to Red Sea tensions
Egypt's revenues from the Suez Canal fell by more than 60 percent in 2024 compared to the previous year amid the Red Sea tensions, resulting in a loss of nearly $7 billion, a presidential statement said on Thursday.
Sisi follows up on Suez Canal measures to address impact of Red Sea incidents
President Abdel Fattah El-Sisi was briefed about the measures taken by the Suez Canal Authority (SCA) to address the challenges arising from the situation in the Red Sea and Bab Al-Mandab Strait as he met with SCA’s Chairman Osama Rabie on Thursday.
Regional challenges cost Egypt around $7 bln of Suez Canal revenues in 2024, Sisi says
Events in the Red Sea and regional challenges cost Egypt around $7 billion in revenues from the Suez Canal in 2024, Egyptian President Abdel Fattah al-Sisi said on Thursday.
Bankrupt Egypt hit hard by Israel-Houthi war, earning from Suez Canal falls by..., president Sisi faces danger like...
As a result of this armed conflict, Egypt has suffered a huge financial loss as its earnings from the Suez Canal have fallen by 60 percent. The loss is gauged at around $ 7 billion to Egypt. Currently ...
Middle East Eye1d
Suez Canal revenues plunge by 60 percent as Egypt faces economic and political turmoil
Egypt’s Suez Canal has seen its revenues nosedive by more than 60 percent in 2024 compared to the previous year, amounting to ...
The troubled history of the Panama Canal’s racial and social divide
The social and racial divide along the Panama Canal zone in its American heyday was stark: a silver and gold, segregated ...
A history of the Panama Canal — and why Trump can’t take it back on his own
President-elect Donald Trump is decrying rising shipping fees Panama has imposed to use the Panama Canal. He’s even ...
Zawya1d
SCZone, Suez Steel sign $120mln deal to develop dry bulk handling at Adabiya Port
Adabiya Port, situated at the southern entrance to the Suez Canal, plays a vital role in connecting Asia and Africa. As one of Egypt’s premier ports for handling dry and liquid bulk goods, it ...
Suez Canal Economic Zone Secures $64Bn In Green Hydrogen Investments
The Suez Canal Economic Zone (SCZONE) has attracted $64bn in green hydrogen investments through 12 framework agreements, ...