WIRE — Revenues from the Suez Canal reached USD 4.67 billion (EGP 230.22 billion) in the 2025/2026 fiscal year, a 23 percent increase since the year before, the Suez Canal Authority (SCA) Chair Ossama Rabie stated in an interview with Ahmed Mousa on the Sada Al-Balad TV show on Sunday, 28 June. Rabie briefed President Abdel Fattah El-Sisi in a separate meeting the same day. During the meeting, Rabie and El-Sisi discussed recent developments in relation to the production of twelve new, advanced "REZK" class deep-sea fishing vessels. These vessels, designed for high-seas fishing, are to be manufactured in Egypt. The President also reviewed the construction of new fibreglass boats, including the completion of hulls for three cruise launches, to support both Nile and maritime tourism. The increase in Suez Canal revenues indicates an easing of regional tensions, including a recent decline in hostilities between Iran and the United States. Due to regional tensions in 2024, specifically in the Red Sea and Bab el-Mandeb, Suez Canal revenues fell to USD 3.9 billion (EGP 192.28 billion). Shipping in the region was significantly disrupted by Houthi raids on Israeli-affiliated ships inContinue reading "Suez Canal Revenue Rises 23 Percent in the 2025/2026 Fiscal Year as Regional Tensions Ease" The post Suez Canal Revenue Rises 23 Percent in the 2025/2026 Fiscal Year as Regional Tensions Ease first appeared on Egyptian Streets.
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