Tanker Targeted by Houthis Returns to Suez as Canal Seeks More Traffic
The Suez Canal is a major source of revenue for Egypt. Reuters is citing a comment from Egyptian President Abdel Fattah al-Sisi saying the diversions of ships from the canal cost Egypt around $7 billion in revenues in 2024.
The Houthis claimed to have launched missiles targeting the tanker on July 12, 2024, while it was entering the Red Sea. Later as it transited the Bab el-Mandeb, they reportedly launched drones for a second attack on the tanker.
Additional lanes for two-way traffic recently opened in the southern reaches of the Suez Canal (SCA)
The authority emphasized that it has continued to pursue enhancements while vessels were diverting. This includes the recent opening of the additional two-lane traffic in the southern sections of the canal as well as deepening sections of the waterway from 66 to 72 feet. The additional sections of the canal they report will permit six to eight additional vessels to make the transit each day while the improvements to the waterway are increasing navigation safety and reducing the impact of water and air currents.
Rabiee told the shipping company representatives that the authority was “keen on keeping its flexibility by maintaining its pre-crisis transit pricing policies.” He said it would be extending its rebate programs to support shipping’s return to the Suez Canal. They also highlighted the addition of new services to support shipping. This includes salvage services, water ambulances, pollution control, and expanding the maintenance and bunkering services.
