Red sea and Suez canal

[csaba]

Does anybody have any info on how much Egypt's profit has gone down now that some companies opt to sail around Africa instead of risking being attacked by Yemenis?

[Ian Thomas]

Found this if it helps csaba, Shpppers pay between $300,000-$1 million per vessel to pass through the Suez Canal so it depends on how many vessels are using the African route, a lot of lost dollars for Egypt.

[Astra]

According to a newsletter Al Monitor, which is covering the Middle East, International Monetary  Fund figures show 35 percent less cargo was transported through the Suez Canal in the first week of 2024 compared with the same period last year.

The route circumnavigating Africa saw a 67,5 percent jump in cargo compared with the same period last year.

The Suez Canal in the fiscal year 2022 / 2023 earned Egypt 9.4 billion US dollars.

Regards 

[MO Roy]

Below an interesting link.
It's called "What is going on with shipping" and there is a new episode every second to third day.
It's quite informative. In the below episode from 11:13 it is about the lost income for the Suez Canal.

https://www.youtube.com/watch?v=OaKk-PI4jpE&list=UULFT_yBgKSiwb3WP4ACPnF5nA&index=1

Cheers,
Roy