Osama Rabie Reveals Affect of Houthi Attacks in Red Sea on Suez Canal

Osama Rabie, Chairman of the Suez Canal Authority revealed that navigation in the canal was not affected by the actions carried out by the Houthis in the Bab al-Mandab Strait until the last week of December 2023.

He continued, during a call-in on Sada El Balad channel, that navigation in the Suez Canal was affected due to the security concern and the fear of danger if crossing through Bab al-Mandab.

He said that the impact is not on the Suez Canal alone, but on the entire world, noting that the canal is the safest, fastest, and most economically- wise compared to the Cape of Good Hope.

He explained that the Cape of Good Hope route makes ships take longer, up to 15 days, and is offset by an increase in fuel consumption and wages paid to workers.

Rabie added that the extent of navigation in the Suez Canal during the first half of this January was affected by 30% in the number of ships, 41% of the tonnage and 41% of the revenues.

He concluded that all companies confirmed that transit through the Suez Canal was temporarily suspended until further notice, and not a permanent diversion.