HomeWorldThe Suez Canal lost...

The Suez Canal lost almost half its revenue due to the Houthi attack

Image: Getty Images

The Suez Canal is the shortest sea route between Asia and Europe, and the canal will generate approximately $10.25 billion in revenue by 2023.

More and more shipping companies are abandoning ship traffic in the Red Sea, which has almost split profits with the Suez Canal, Bloomberg reports.

The Suez Canal is the shortest sea route between Asia and Europe. It is also the most important source of foreign currency for Egypt, with the canal bringing in about $10.25 billion in 2023.

Last month, the channel’s revenue in Egypt was about $428 million, compared to $804 million in the same period in 2023.

According to the head of the Suez Canal Authority, Osama Rabie, the number of ships passing through the canal decreased by 36%.

The Suez Canal crisis could further shake Egypt’s recently battered economy, with pressure from the war between Israel and the Hamas group curtailing tourism.

Let’s recall that the attack on a Trafigura tanker carrying Russian oil on January 26 called into question the safety of most legal shipping in the Red Sea. The price of oil has increased by 2 dollars.


New Correspondent.net on Telegram and WhatsApp. Subscribe to our channels Athletistic and WhatsApp

New Correspondent.net on Telegram and WhatsApp. Subscribe to our channels Athletistic and WhatsApp

Source: korrespondent

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

- A word from our sponsors -

Read Now

Lutsk shoulder – Spaces went to bending, and the posts are already 27 already 27

The mass shelling of Lutsk on the night of May 6 led to the death of a man-republics, which were unlocked by the body of a nine-story building who died from fragments. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px;...

The authorities of Kyiv showed how the reconstruction of the metro after the Russian attack (photo)

In Kyiv, about 70 specialists in various services KP "KYIV METRO" restore and repair traces and metro network, damaged by the combined air attack of racists on the night of June 6 at night on June 6. .in_text_content_22 {width: 300px; Height: 600px; } @Media...

Trump and Mask Rich Will die in Bella home – SMI

In the confrontation of US President Donald Trump and his former ally, billionaire Ilon Mask, who recently received fierce revolutions, there are signs of a truce. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation;...