The chairman of Egypt’s Suez Canal announced that the revenues for the month of January 2024 took a 46% plunge in comparison to the same period in 2023.
“In January of last year, we saw revenues of $804 million, versus $428 million this year, which means a loss of 46%,” Admiral Osama Rabiee said.
The number of vessels navigating on the poignant waters, which links the Red Sea to the Mediterranean, witnessed a 36% decline last month, compared to January 2023.
Transit in the Red Sea could smoothly navigate prior to the US announcing the formation of a joint pro-Israeli coalition, a retaliatory attack against Yemen’s pro-Palestine maritime war.
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