{"id":10064,"date":"2024-07-30T20:12:29","date_gmt":"2024-07-30T20:12:29","guid":{"rendered":"https:\/\/axxessintl.com\/suez-canal-revenue-dropped-2-billion-last-year-due-to-red-sea-security-crisis\/"},"modified":"2024-07-30T20:54:49","modified_gmt":"2024-07-30T20:54:49","slug":"suez-canal-revenue-dropped-2-billion-last-year-due-to-red-sea-security-crisis","status":"publish","type":"post","link":"https:\/\/axxessintl.com\/en\/suez-canal-revenue-dropped-2-billion-last-year-due-to-red-sea-security-crisis\/","title":{"rendered":"Suez Canal Revenue Dropped $2 Billion Last Year Due to Red Sea Security Crisis"},"content":{"rendered":"

The Suez Canal Authority saw its revenue drop by about $2 billion year-over-year because of the traffic impact of Houthi attacks in the Red Sea, the agency said Thursday. <\/p>\n

In FY 2023\/24, the SCA’s revenue fell to $7.2 billion from $9.4 billion the prior year, a drop of about 23 percent. The total tonnage passing through the canal fell by a third, and the number of transits declined by about 22 percent year-over-year.<\/p>\n

As the Houthi attacks only began in earnest in November 2023, after half of the SCA’s fiscal year had passed, the numbers partially reflect business-as-usual performance last summer and fall. Current traffic levels are less encouraging, and suggest that FY 2024\/25 numbers will be even lower unless the security situation improves.<\/p>\n

The canal is a key source of revenue for the government of Egypt, and it is one of the country’s top earners of foreign currency.<\/p>\n

Read more in an article from The Maritime Executive<\/a>.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The Suez Canal Authority saw its revenue drop by about $2 billion year-over-year because of the traffic impact of Houthi attacks in the Red Sea, the agency said Thursday.<\/p>\n","protected":false},"author":15,"featured_media":10071,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[56],"tags":[1250],"types-de-nouvelles":[],"class_list":["post-10064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-freight-news","tag-suez-canal-authority-en"],"yoast_head":"\nSuez Canal Revenue Dropped $2 Billion Last Year Due to Red Sea Security Crisis - Axxess International<\/title>\n<meta name=\"description\" content=\"The Suez Canal Authority saw its revenue drop by about $2 billion year-over-year because of the traffic impact of Houthi attacks in the Red Sea, the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/axxessintl.com\/en\/suez-canal-revenue-dropped-2-billion-last-year-due-to-red-sea-security-crisis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Suez Canal Revenue Dropped $2 Billion Last Year Due to Red Sea Security Crisis - 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