Egypt’s Suez Canal Sees 14% Revenue Increase Amid Red Sea Tensions Easing

Egypt’s Suez Canal revenues saw a 14.2% increase year-on-year from July to October, as announced by the canal authority on Tuesday. The improvement was linked to a decrease in tensions in the Red Sea following a ceasefire in Gaza and a rise in traffic through the crucial waterway. Yemen’s Iran-aligned Houthis had previously carried out over 100 attacks on ships in the Red Sea and surrounding areas in 2023 and 2024, causing some shippers to change their routes. However, with the recent stability, the appeal of the Suez Canal as a key transit route has been reinvigorated.