Suez Canal revenue has plunged 60% this year, a loss of $7 billion for Egypt, amid attacks on shipping in the Red Sea and ongoing regional tensions.
President Abdel Fattah al-Sisi in a statement blamed rising geopolitical challenges for the decline but offered no other details, according to published reports.
Egypt collects tolls on vessels that transit the canal, a key route for maritime commerce.
Since late 2023, Houthi fighters based in Yemen have disrupted global trade by attacking merchant...
https://www.freightwaves.com/news/suez-canal-revenue-down-60-but-red-sea-outlook-may-be-changing