Suez Canal revenue fell by 40% due to fighting in the Red Sea

At the beginning of January 2024, the number of ships that crossed the Suez Canal decreased by 30% – due to the deterioration of the situation in the Red Sea.

The income of the Suez Canal in the first half of January fell by 40% compared to the same period last year. The main reason for this was the aggravation of the situation in the Red Sea, said the head of the Suez Canal Administration (SCA), Osama Rabia.

Thus, the number of ships that crossed the canal during this period decreased by 30% to 544 units, the total cargo tonnage fell by 41%.

Previously, USM wrote that as a result of Yemeni Houthi shelling of civilian ships, the cargo flow was redirected from the Suez Canal to the Cape of Good Hope. As of December 24, a record 125 vessels changed the route.