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Suez Canal revenues drop significantly as a result of Houthi attacks
The Suez Canal’s annual revenue dropped by almost one-quarter in its latest financial year as attacks by the Houthis in Yemen forced some shipping companies to take alternative routes.
Osama Rabie, head of the Egyptian canal’s authority, said revenues fell to $7.2bn in its 2023-24 financial year from $9.4bn the year previous, according to Reuters.
Rabie said the number of ships using the canal fell to 20,148 in 2023-24 from 25,911 the year before.
The Iran-aligned Houthis have promised their attacks will continue against Israeli-linked vessels until Israel halts its war on Gaza.
Houthis suggest Gaza aid deal with Israel for decrease in attacks on shipping
A senior Houthi official in Yemen says if Israel allows desperately needed humanitarian aid into northern Gaza, the militia will cease some attacks on ships that visit the Umm al-Rashrash port, known in Israel as Eilat.
Mohammed Ali al-Houthi said on X: “We say to the enemy if you allow the entry of aid into the north of Gaza, as much as you allow the Yemeni Mujahideen army will allow the delivery of similar quantities to the occupied port. The ball is in your court.”
Al-Houthi suggested Egyptian and Qatari mediators could work out such a deal with Israel in consultation with Palestinian armed groups.
The Houthis have for months targeted Israel-linked cargo vessels with missile and drone strikes in support of Palestinians, promising to continue the attacks until Israel ends it war on Gaza.
Houthi leader says 25 projectiles used in attacks this week
Abdel-Malik al-Houthi, chief of the Yememi group, says during his latest televised speech that the group used 25 ballistic and cruise missiles, drones and one unmanned boat in its attacks on ships this week.
This, he said, brought the total number of ships targeted by the Iran-aligned group since the start of the war to 170.
“We will, God willing, progressively escalate and increase the impact of our operations in the Indian Ocean and the Mediterranean Sea,” he promised.
Al-Houthi also issued a new warning for Saudi Arabia, saying Riyadh is jeopardising its future by aligning itself too closely with the US and Israel.
“If the Saudi regime is ready to sacrifice its future and lose its economic plans for the sake of Israel and the US, then there is no point in Vision 2030 or plans to develop Riyadh Airport to be one of the largest in the world.”
