Fear of attacks from the Huthi movement on cargo ships is causing revenue from the Suez Canal to decrease radically. Revenue fell by over 23 percent during the fiscal year 2023/24, according to new figures.
A total of 20,148 ships passed through, compared to 25,911 ships the previous year.
The decrease is a consequence of more and more shipping companies choosing a detour around Africa to avoid attacks from the Huthi militia on their ships. The attacks, in turn, have their background in the movement's desire to support the Palestinians in the Gaza War. For Egypt as a country, revenue from the Suez Canal is simultaneously extremely important.
