Egypt’s Canal receipts fall by almost half after Red Sea Attacks
5/2/2024 6:25
Egypt’s Suez Canal revenue plunged by almost half in January, a top official said, after attacks by Yemeni militants on Red Sea vessels forced major shipping firms to avoid the waterway.
Income was about $428 million last month, compared with $804 million for the same period in 2023, Suez Canal Authority chief Osama Rabie told an Egyptian TV talk-show on Friday evening. The number of ships navigating the canal fell 36%, he said.
Source: Bloomberg
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