Suez Canal Authority Chairman discusses impact of Red Sea tensions on canal revenues

2024-01-11 20:44:00

10:44 PM Thursday, January 11, 2024

Lieutenant General Osama Rabie, Chairman of the Suez Canal Authority

Books – Hassan Morsi:
Lieutenant General Osama Rabie, Chairman of the Suez Canal Authority, confirmed that the canal was affected by the tensions occurring in the Red Sea, as the dollar return decreased by 40% compared to last year in the period from January 1 to 11.

“Rabie” said, during a telephone conversation with the journalist Khaled Abu Bakr, on his “Kul Yom” program, on the “ON” satellite channel, on Thursday evening, that there has been a 40% decline in the revenues of the Suez Canal since 2024.

He explained that the period from January 1 to 11, 2024 witnessed a decrease in ship transit by 30%, by 544 ships compared to 777 ships last year, and tonnage decreased by 41%. Compared to the same period last year.

He stressed that the Cape of Good Hope is not a valid and safe route for ships to cross at this time, especially in light of the strange weather and the long duration of the crossing, for more than 10 to 15 days according to its speed compared to passing through the Suez Canal, and this represents a burden on shipping lines, and there is a crisis on shipping ships. From rising costs and prices.

Lieutenant General Osama Rabie pointed out that the Suez Canal works to provide various services, as it provides arsenal and repair services, ambulance launches, in addition to technical insurance operations upon its arrival in Egypt.

Lieutenant General Osama Rabie, Chairman of the Suez Canal Authority, stressed that the Suez Canal saves “time and money,” is the safest, saves fuel, and preserves goods strongly.

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#Ship #transit #Suez #Canal #decreased #30…for #reasons

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