Egypt: Suez Canal's operations fall 23.1% in Q3 FY2024/25
This is compared to a sharper plunge of 51.6% in Q3 FY2023/24, which marked the beginning of a continued reduction in vessel traffic due to escalating geopolitical tensions.
These disruptions have been affecting the canal revenues to date.
In March, President Abdel Fattah El-Sisi previously revealed that Egypt incurs monthly losses estimated at $800 million in Suez Canal revenue due to regional instablities.
In Q2 of FY2024/25, the Suez Canal's operations retreated by 70%, affected by geopolitical tensions.
The current political conditions negatively impacted navigation through the canal, causing a drop in the number of transiting ships.
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