The Suez Canal, one of the world’s most vital trade routes, is facing unprecedented financial losses as Houthi attacks in the Red Sea continue to divert shipping traffic.
NEWSRAEL: While the pro-Hamas Islamists and their western Dhimis are egging the Houthis on in their "resistance" against Israel, it is not Israel, who's ports in Haifa and Ashdod have taken up the slack from Eilat - but the Egyptians.
According to data published in an American magazine, the canal’s revenues in 2024 collapsed to just $4 billion, a 61% drop from the record $10.3 billion reached in 2023. Canal Authority chief Osama Rabie confirmed that daily ship transits have fallen from an average of 65 to only 30–35, with monthly container vessel crossings dropping from about 500 to just 133 by July 2025.
In response to the crisis, the Suez Canal Authority has extended a 15% discount on transit fees until the end of 2025 and introduced new services such as maritime rescue, ship repair, and fuel supply to offset the dramatic decline in traffic. Still, with global shipping companies increasingly rerouting vessels away from the Red Sea, the canal’s role as a cornerstone of international trade faces one of its toughest challenges in decades.