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Date: 25/03/2025

Suez Canal monthly revenue losses at $800 mn due to Red Sea crisis: Egypt

The monthly losses in Suez Canal revenues have touched around $800 million due to the regional situation, as Yemen’s Houthis have been attacking vessels in the Red Sea, said Egypt’s President Abdel Fattah al-Sisi. The Egyptian President did not directly refer to the Houthis but said in December 
the disruption cost Egypt around $7 billion in less revenue from the Suez Canal.  The Houthis have attacked vessels in the Red Sea area since November 2023 in support of Palestinians in Gaza during the war with Israel, disrupting global shipping by forcing vessels to avoid the nearby Suez Canal and reroute trade around Africa, raising shipping costs. The Yemeni group recently vowed to resume attacking US vessels in the Red Sea, in response to deadly US strikes on Yemen that killed at least 53 people, said a report.
Source: Exim News Service: Cairo, March 24
 



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