Osama Rabei: Suez unaffected by Hormuz closure

The Chairman of the Suez Canal Authority, Major General Osama Rabei, reported that the number of ships passing through the canal increased by 10% during the current fiscal year, with cargo volumes rising by 22% and revenues in U.S. dollars increasing by 23%, amounting to approximately $4.7 billion. He noted that changes in the maritime straits have not significantly affected transit movement, and that the Bab el-Mandeb Strait accounts for 49% of the passing ships. He further clarified that only 7% of ships pass through the Strait of Hormuz, and that Saudi Arabia has altered its shipping routes to avoid the region.

Size: 120%Text Size

Notice: This Is an AI-Generated Summary

Display The Full Article