Suez Canal Revenue Plummets Amid Red Sea Tensions

In the fiscal year 2023-2024, the Suez Canal’s revenue experienced a significant drop, falling by approximately 23%. Earnings declined from $9.4 billion in the previous fiscal year to around $7.2 billion. The number of vessels using the canal also decreased from 25,900 to 20,148. Geopolitical tensions and security threats, particularly from Yemen’s Houthi rebels, drove […]