Suez Canal

Main article: Economy of Egypt

2024

Egypt's Suez Canal revenues fell by nearly half in January as Houthi attacks on Red Sea vessels

Revenues Egypt from the Suez Canal fell by nearly half in January 2024 after attacks by Yemeni fighters on Red Sea vessels forced major shipping companies to avoid the waterway, a senior official said.

In the first 10 days of March 2024, the volume of transit through the Suez Canal, according to the IMF, decreased by 62% compared to the same period last year.

At the same time, the volume of trade through the Cape of Good Hope more than doubled compared to the same period last year

Egypt raises transit fee for Suez Canal as traffic cuts after Houthi attacks in Red Sea

In January 2024, Egypt raised transit fees for the Suez Canal as the need for foreign currency surpassed a drop in maritime traffic due to Houthi attacks on ships in the Red Sea. According to the head of the canal administration, Osama Rabi, from January 1 to 11, the volume of traffic through the Suez Canal decreased by 30% compared to the previous year.

Commercial ship transit through the Suez Canal has fallen to its lowest level since 2021, since the Ever Given blocked the waterway nearly three years ago.

2022: Record cargo traffic - 23 thousand ships from 1.4 billion tons of cargo

In 2022, the Suez Canal reached historical cargo traffic records for its entire history. In 2022, more than 23 thousand ships with 1.4 billion tons of cargo passed through the Suez Canal.

2021: Container ship runs aground and blocks Suez Canal

In March 2021, the Ever Given container ship ran aground in the Suez Canal. 367 ships were waiting for the resumption of traffic along the canal in line.

2019: Suez Canal's share of global trade - 19%