Suez Canal revenues drop by 40% over Red Sea incidents: Official
The Chairman and Managing Director of the Suez Canal, Osama Rabie, announced Tuesday that the number of ships passing through the Suez Canal decreased by 30 percent compared to the same period last year, owing to tensions at the Red Sea.
During a telephone interview with Lamis al-Hadidi on Egypt’s “Last Word” (Kalema Akhera) television show, Rabie added that the return in US dollar also fell by 40 percent.
Regarding obligations on the Suez Canal in US dollar, he clarified: “We do not have obligations. The dollar return is pumped into the Central Bank (of Egypt), and our investment projects are dealt with through our companies and supplies from national companies such as (those of the) Military Production (Ministry) and others.”