Red Sea, Suez Canal and Egypt

Red Sea Crisis Costs Egypt $7 Billion in 2024 as Suez Revenues Sink
The office did not provide total figures, or tonnage numbers. Admiral Ossama Rabiee, the chairman and managing director of the Suez Canal Authority, briefed President Abdel Fattah El-Sisi on the news Thursday.
Suez Canal revenues plummet to $4 bln in 2024 amid Red Sea tensions: SCA chairman
Egypt's Suez Canal revenues plummeted to $4 billion in 2024 from $10.2 billion in 2023 (a 60.7 percent loss) due to the ongoing tensions in the Red Sea, Chairman of the Suez Canal Authority (SCA) Osama Rabie stated in an interview with Sada El-Balad on Saturday.
Red Sea attacks cost Egypt $7 billion in Suez Canal revenue
Suez Canal revenues have suffered an abrupt 60% decline y/y as vessel operators divert services away from the Red Sea. The post Red Sea attacks cost Egypt $7 billion in Suez Canal revenue appeared first on FreightWaves.
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.
Egypt Tests New Extension Of Suez Canal
Egypt has tested a new 10-kilometre (6.2-mile) extension to the Suez Canal as it tries to minimise the impact of currents on shipping and increase the key waterway's capacity.
Egypt commits to boosting private sector role as it loses $7bn in Suez Canal revenue this year
Egypt lost roughly $7 billion in revenues from the Suez Canal, down about 60 per cent annually, mainly as a result of attacks by Yemen's Houthis on ships in the Red Sea, Egyptian President Abdel Fattah El-Sisi said on Thursday.
Egypt completes trial run of new Suez Canal channel extension
Egypt said on Saturday it had successfully tested a new 10 km channel near the southern end of the Suez Canal, even as its ...
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Egypt tests new extension of the Suez Canal
President says due to “regional challenges”, country lost approximately $7 billion in Suez Canal revenue, 60pc less than 2023 ...
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Suez Canal Expands as Revenues Plunge $7B
Egypt successfully tested a new 10 km channel near the southern end of the Suez Canal, even as its revenue from the waterway ...
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Extended Suez Canal Section To Support Global Trade Amid Challenges
Egypt has successfully tested a newly constructed 10-kilometre extension of the Suez Canal. The initiative aims to reduce the ...
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Suez Canal successfully conducts trial operation of new dual passageway in Little Bitter Lakes
Suez Canal Authority (SCA) announced on Saturday the successful trial operation of the canal's new dual passageway in the ...
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Egypt: Suez Canal Bank unveils issued-capital hike to $127.8mln
The lender is set to raise its capital by EGP 1.50 billion financed from the shareholders' share in the distribution of profits for the year that ended on December 31st 2023 ...
China Hits Back at Trump on Panama Canal as Questions Grow Over Influence
China has voiced its support for Panama to retain control of the Panama Canal after Trump floated the idea of taking back control of the trade route.
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The world’s most important seaways, the Suez and the Panama Canal, in the news
A decades-old plan, a Suez Canal alternative for larger boats, is a bit held up by Israel’s drive to get Gaza terrorist-free. There’s always something. This Canal can be finished in five years, but ...