Since November 2023, nearly 3,400 ships have been forced to change their routes and have not entered the Suez Canal due to increased tensions in the Red Sea, Suez Canal Authority Chairman Osama Rabieh said, RIA Novosti reported on May 14th.
In March, Egyptian Finance Minister Mohamed Maite said that Suez Canal revenues had fallen by 50 percent due to tensions in the Red Sea, the report said.
In a speech to the Egyptian parliament, Rabiyeh said, "The unstable situation in the Red Sea has led to 3,395 ships sailing to the Cape of Good Hope in South Africa instead of to the Suez Canal."
He said that the voyage through the Cape of Good Hope takes much longer. He also emphasized that the Suez Canal is an ideal route for international trade.
The Yemeni Houthi group controls much of Yemen's Red Sea coast.2023 In November the group warned of its intention to attack any ship linked to Israel, calling on other countries to recall their crews. Several shipping companies have decided to suspend transportation through the Red Sea.
