Suez Canal’s revenues fall to $428mln in January

Reuters Images/Mohamed Abd El Ghany

This was attributed to the decrease in the number of vessels passing through the canal to 1,362 last month from 2,155 ships in January 2023

Staff Writer, Arab Finance

February 4, 2024

PHOTO

The Suez Canal’s revenues dropped 46.7% year on year (YoY) to $428 million in January, the canal authority's Chairman Osama Rabie told Kol Youm talk show on February 3rd.

This was attributed to the decrease in the number of vessels passing through the canal to 1,362 last month from 2,155 ships in January 2023, Rabie highlighted.

On a related note, the French shipping group CMA CGM has suspended its Red Sea transits until further notice over security concerns, Reuters reported, citing a source familiar with the matter.

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