Suez Canal falls 28pc on war risk while Cape soars 67pc

16th January, 2024

SHIPPING volume via the Suez Canal fell 28 per cent year on year while Cape route shipping soared 67 per cent because of the Red Sea missile attacks from Yemen, reports Jeddah's Arab News.

Egypt's Suez Canal Authority emphasised keeping a close eye on Red Sea tensions and their possible effects on canal traffic.

Canal authority chairman Osama Rabea said the authority remains vigilant about how the ongoing Red Sea tensions affect canal traffic.

Maersk revealed plans to resume eastbound and westbound voyages to the Red Sea. At the same time, CMA CGM of France declared that more ships were passing via the Suez Canal.


Source: shippingazette

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