Egypt has ambitious goals for the Suez Canal's future, aiming to accommodate more ships and larger vessels to boost revenue despite recent disruptions.
Since November 2023, approximately 250 attacks by Yemen's Houthi rebels on ships in the Suez Canal have led to a drastic slowdown in maritime traffic.
As of late December 2023, the number of ships crossing the Suez Canal dropped from an average of 72 to just 27 per day.
Egypt's Foreign Minister confirmed a 60% revenue drop from the Suez Canal, with losses around $7 billion reported for 2024 due to disrupted traffic.
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