Red Sea Shipping Rebound Forecasted for Late 2025 ...Middle East

OILPRICE - Economy
Red Sea Shipping Rebound Forecasted for Late 2025
source : OILPRICE ( Middle East ) () 81
Suez Canal revenue has plunged 60% this year, a loss of $7 billion for Egypt, amid attacks on shipping in the Red Sea and ongoing regional tensions. President Abdel Fattah al-Sisi in a statement blamed rising geopolitical challenges for the decline but offered no other details, according to published reports. Egypt collects tolls on vessels that transit the canal, a key route for maritime commerce.  Since late 2023, Houthi fighters based in Yemen have disrupted global trade by attacking merchant and naval vessels in the Red Sea, just south…

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