Has Navigation in the Suez Canal Stopped?

The head of the Suez Canal Authority in Egypt, Osama Rabie, confirmed today, Friday, that there is no truth to claims that navigation in the canal has stopped due to developments in the Red Sea. He stated, "Navigation in the canal is proceeding as usual in both directions." Rabie pointed out that there has been a 30 percent decline in navigation traffic in the Suez Canal from the beginning of January 2024 to today, compared to the same period last year. He also noted in statements to local media that there has been a 40 percent decrease in dollar revenues from the Suez Canal since the beginning of 2024 compared to the same period last year due to attacks on ships in the Red Sea. He explained that what is happening has affected transportation lines as a whole and not just the Suez Canal.