Ahmad 
The head of the Egyptian Suez Canal Authority, Lieutenant General Osama Rabie, stated that the canal’s revenues have decreased by 40% since the beginning of the year compared to 2023.
Rabie said in a televised intervention that ship traffic fell 30% from January 1 to January 11 compared to last year.
He pointed out that the decline came by 544 ships compared to 777 ships last year, while tonnage decreased by 41% in the same period compared to 2023.
The head of the Suez Canal Authority confirmed that the alternative corridor through the Cape of Good Hope is not the safe passage for ships to cross at this time due to weather conditions, and the increase in transit time to about two weeks compared to the Suez Canal.
Rabie explained that this represents a burden on shipping lines, and supply chains, including high shipping costs and cargo insurance.
This came due to the escalation of tension in the southern Red Sea, after the Yemeni group “Ansar Allah” announced the targeting of ships it says are linked to, heading to or coming from, Israel, in response to the ongoing war in the Gaza Strip.
Head of the Suez Canal Authority: Navigation in the canal is regular, and the suspension was temporary