Revenue from Egypt’s Suez Canal dropped by nearly half in January, as Houthi rebels’ attacks on commercial vessels forced major shipping companies to divert away from the key global trade artery. Income from the strategic waterway last month dropped to $428 million, compared to $804 million in January 2023, Admiral Osama Rabie, chairman of the Suez Canal Authority, told Egyptian television channel ON TV. The number of ships passing through the Suez Canal last month fell to 1,362, down 36 percent from the 2,155 during January 2023, Admiral Rabie said.
