The crisis in the Bab el-Mandeb Strait region and in the Sea Southern Red, where since the end of last year ships in transit are the subject of attacks carried out by the Houthi rebels with drones, missiles and boats, has led to lower revenues in the state coffers of Egypt amounting to about six billion dollars to due to the reduction of maritime traffic in the Suez Canal. The the Egyptian Minister of Foreign Affairs announced on Friday and Emigration, Badr Abdelatty, on the occasion of a meeting with the Secretary General of the International Maritime Organization (IMO), Arsenio Dominguez. It is necessary to specify that the Suez Canal Authority reported revenues generated directly from the collection of ship transit charges in the Egyptian canal amounted in the first eight months of 2024 to 117.5 billion Egyptian pounds ($2.4 billion), with a decrease of 93 billion EGP pounds (1.9 billion EGP) dollars) compared to the corresponding period of 2023.

During the meeting, the Minister expressed his Egypt's satisfaction with the imminent inauguration in Alessandria of the IMO Regional Representative Office for Arab countries in the Middle East and North Africa, which is expected to open in the coming months.

Meanwhile, Egypt's Egyptian Global Logistics (EGL) has announced that she has been appointed shipping agent of the Chinese container shipping Vuxx Shipping to which in the months Reel Shipping of Dubai has transferred all its maritime services with Russia. EGL announced that Vuxx Shipping has scheduled calls at the Egyptian port of El Dekheila of its two weekly scheduled services connecting China with Russian ports of Novorossiysk and St. Petersburg.