Business

04.08.2025

Canal Revenue Decline and Security Concerns

Team Rabie said in statements to “”, in response to a question about the partnership between the authority and Russia: “The authority deals with all countries equally,” emphasizing that “the canal is not politicized.” He pointed out that “the canal’s revenues declined by 66 percent in 2024 due to the Ansar Allah attacks in the Red Sea,” expecting “a similar decline during the current year as well.” Team Rabie explained that “the authority decided to reduce fees for large container ships, which exceed 130,000 tons, by 15 percent for three months, to expedite their return to the navigation channel, but this is due to security concerns, not economic ones.” He added that “this period may be extended or the fee reductions increased, depending on circumstances, but there are no current plans for additional discounts.” Team Osama Rabie noted that “after recent renewed attacks in the Red Sea, ships have resumed avoiding the Red Sea route and have chosen the Cape of Good Hope route to avoid risking their cargo and crews.” He added that “the canal does not differentiate in the services provided to ships based on their nationality. It offers the same fixed services to all ships, regardless of the country they belong to and regardless of the existence or absence of friendship between them and Egypt.”