Revenue from the Suez Canal plummeted to $880.9 million in the fourth quarter from $2.40 billion a year earlier
Egypt's Suez Canal offers 15% rebate for container ships of 130,000 tons or more
The offer comes after revenue from the canal continued to plunge on the back of attacks on shipping by Yemen's Houthis.
Tuesday 13/05/2025
Revenue from the Suez Canal plummeted to $880.9 million in the fourth quarter from $2.40 billion a year earlier
CAIRO - Egypt's Suez Canal will offer a 15% rebate for container ships with net tonnage of 130,000 metric tons or more, in light of the positive security developments in the Red Sea and Bab Al-Mandab Strait, the Suez Canal authority said on Tuesday.
The offer came after revenue from the canal continued to plunge on the back of attacks on shipping by Yemen's Houthis, who say they are trying to shut off cargo bound for Israel in support of Palestinians in Gaza, but who are also chasing ships away from the canal.
Revenue from the Suez Canal, a key source of foreign currency for Egypt, plummeted to $880.9 million in the fourth quarter from $2.40 billion a year earlier, the victim of Houthi attacks, central bank figures showed earlier this month.