CAIRO – 10 February 2025: Chairman of the Suez Canal Authority, Osama Rabie, forecasts a gradual recovery in maritime traffic through the Suez Canal, with operations expected to return to normal by late March and full restoration projected by mid-2025—contingent on the continuation of the ceasefire in Gaza.
In a recent interview on Egyptian television, Rabie revealed that the canal is currently accommodating only 32 ships per day, which is a sharp decline from the pre-war average of 75 ships per day before the Gaza conflict erupted on October 7, 2023.
Additionally, he confirmed that large oil tankers remain unable to transit through the canal at this stage.
Highlighting the economic ramifications, Rabie underscored the substantial financial toll on the Suez Canal, a key source of foreign currency for Egypt.
The conflict has led to a revenue decline of approximately 60 percent, with projected losses reaching an estimated $7 billion for the current fiscal year, ending in June 2025.
In December, Egyptian President Abdel Fattah El-Sisi met with Rabie to assess the impact of regional tensions on Suez Canal shipping activity in 2024.
According to Ambassador Mohamed El-Shennawy, the Presidential Spokesman, the meeting confirmed a drastic downturn in the canal’s revenue, with losses surpassing 60 percent compared to the previous year.
The disruptions in the Red Sea and Bab el-Mandeb Strait have severely hampered navigational traffic, posing a major challenge to global trade flows and economic stability.
Mon, Feb. 10, 2025
