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Egypt’s Suez Canal revels 14.2% increase in year-on-year revenue

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Egypt’s Suez Canal says revenues rose 14.2% year-on-year between July and October in the country, citing calmer conditions in the Red Sea after a ceasefire in Gaza and a pick up in traffic through the vital waterway
Yemen’s Iran-aligned Houthis launched more than 100 attacks on ships in the Red Sea, the Gulf of Aden and the Bab al-Mandab Strait that links them in 2023 and 2024 in what they described as solidarity with the Palestinians over Israel’s war in Gaza, prompting many shippers to switch to alternative routes. Suez Canal Authority Chairman Osama Rabie said 229 ships returned to transit through the canal in October, the highest monthly figure since the start of the regional crisis, adding that traffic volumes and tonnage had shown a relative improvement in recent months.
–SABC–