Madhbouli explained during a press conference broadcasted by the Egyptian channel “Extra News” that the current challenge is not related to the technical capabilities of the canal, but rather to the decisions of global shipping companies that are currently rescheduling their routes to return to using the canal after a period of relative halt, according to the electronic portal “Akhbar Al-Youm”. He pointed out a meeting between President Abdel Fattah and the CEO of “Maersk,” the largest global shipping company, earlier this week, where the two parties discussed the company’s investments in Egypt and its future plans in maritime transportation and green energy.
He added that the head of the authority is conducting intensive communications with major shipping companies to encourage them to redirect their shipping lines through the canal, noting that these decisions require international coordination due to the complexities of insurance and transport contracts.
Madhbouli expected a gradual return of navigation traffic within two to three months, supported by improved regional conditions, the continuation of the ceasefire in Gaza, and the implementation of the political initiative announced at the Sharm El Sheikh summit. He affirmed the Egyptian government’s commitment to follow up on the issue in coordination with the canal authority, emphasizing the role of the canal as a vital artery for global trade and a strategic hub for maritime transport between East and West.
The Egyptian Foreign Minister stated last Sunday that the Red Sea represents a bridge for Arab-African integration and a vital artery for international navigation, indicating that “Egypt is the most affected country by the instability in the Red Sea, Gulf of Aden, and Yemen.” He noted that the number of transiting ships per day decreased from about 72 container ships to 29-30 ships, which directly affected the canal’s revenues and the national and global economy.
