{"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":"<p>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. <!--more--><\/p>\n<p>In FY 2023\/24, the SCA&#8217;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<p>As the Houthi attacks only began in earnest in November 2023, after half of the SCA&#8217;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<p>The canal is a key source of revenue for the government of Egypt, and it is one of the country&#8217;s top earners of foreign currency.<\/p>\n<p>Read more in an <a href=\"https:\/\/ciffa.apms5.com\/anywhere\/m?s=ciffa&amp;m=s_0a7d5ca1-4bc7-46c8-ac22-ea1cb3e4ad3f&amp;u=e1jq4wvfdtfkjca364tkeh235mum4e1j5mu32h1n5n0kggj65mvkjdhp652k0g9r8cum8&amp;r2=d1u78w3k78qjyxvqewq6urbjd5u6jvb55njqgtb3enu6jxk55thpyv9fc5t78ub3dhjjywvncnx2urv1dtgprbbjcnv6avkncmpp8wkfe1r6at1d69h2uv31edu2uyb5c5t2ut3ncmpq8vtde9jp8bbkcngjuwv5cduq4ubmf4pp6wk9edmq6&amp;n=7\">article from The Maritime Executive<\/a>.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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"],"_links":{"self":[{"href":"https:\/\/axxessintl.com\/en\/wp-json\/wp\/v2\/posts\/10064","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/axxessintl.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/axxessintl.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/axxessintl.com\/en\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/axxessintl.com\/en\/wp-json\/wp\/v2\/comments?post=10064"}],"version-history":[{"count":2,"href":"https:\/\/axxessintl.com\/en\/wp-json\/wp\/v2\/posts\/10064\/revisions"}],"predecessor-version":[{"id":10069,"href":"https:\/\/axxessintl.com\/en\/wp-json\/wp\/v2\/posts\/10064\/revisions\/10069"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/axxessintl.com\/en\/wp-json\/wp\/v2\/media\/10071"}],"wp:attachment":[{"href":"https:\/\/axxessintl.com\/en\/wp-json\/wp\/v2\/media?parent=10064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/axxessintl.com\/en\/wp-json\/wp\/v2\/categories?post=10064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/axxessintl.com\/en\/wp-json\/wp\/v2\/tags?post=10064"},{"taxonomy":"types-de-nouvelles","embeddable":true,"href":"https:\/\/axxessintl.com\/en\/wp-json\/wp\/v2\/types-de-nouvelles?post=10064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}