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Egypt insists Red Sea security dynamics have shifted and Suez return is possible

Egypt's foreign minister asserts improved Red Sea security post-Yemen ceasefire, aiming to restore Suez Canal traffic and recover $8bn in lost revenue
25.05.25 | Source: Lloyds List

THERE has been a material shift in Red Sea security dynamics, according to the Egyptian government, which is seeking to stem $8bn of revenue losses from the Suez Canal.


Writing exclusively in Lloyd’s List today, Egypt’s minister of foreign affairs, Badr Abdelatty, said the recent ceasefire agreement in Yemen, reached under the auspices of Oman, should restore maritime sector confidence that safe navigation of the Red Sea was now possible.


The minister’s message, which he directed to the majority of the shipping operators who have not yet returned to Red Sea routes amid continuing security concerns, comes as part of a wider charm offensive from the Egyptian government seeking to persuade shipowners to return to the Suez Canal.


Egypt has been hemorrhaging $800m a month since the beginning Houthi attacks on shipping last year and despite a ceasefire agreement being announced, traffic has not materially changed.


Earlier this month the Suez Canal Authority offered container ships a 15% discount on transit fees as the government stepped up efforts to lure shipping back.


 

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