The Egyptian President explained in a speech during the graduation ceremony of a new batch of police academy students in EgyptSunday, that Suez Canal It has lost more than 50 to 60 percent of its income over the past about 8 months, estimating losses at more than $6 billion.
He said: “The developments taking place are very dangerous and may lead to an expansion of the conflict in the region in a way that affects its stability.”
It was revenue Egyptian Suez Canal Authority It declined during the fiscal year 2023/2024, as a result of it being severely affected by the repercussions of the events in Red Sea.
According to a statement by the Suez Canal Authority, mid-July, navigation statistics during the fiscal year 2023/2024 recorded the transit of 20,148 ships with a total net tonnage of 1 billion tons, achieving revenues of 7.2 billion dollars, compared to the transit of 25,911 ships during the fiscal year 2022/2023 with a total net tonnage of 1.5. One billion tons, generating revenues of $9.4 billion.
The head of the Suez Canal Authority, Osama Rabie, said at the time that the security challenges in the Red Sea prompted many ship owners and operators to take alternative routes to the canal, which negatively affected the rates of ship transit through the canal.
Rabie pointed out that the Suez Canal continues to support its customers and try to reduce the impact of the current conditions by meeting the requirements of this stage through direct communication with customers and creating a package of new navigation services that were not available before.
He added that the canal’s development strategy is proceeding with rapid steps and has not stopped despite the various challenges, with the aim of enhancing the canal’s capabilities, raising its efficiency, increasing its competitiveness, and confirming its leadership in global shipping routes.
