The head of Egypt’s Suez Canal Authority announced on Thursday that conditions in the Red Sea are now favorable for the resumption of maritime navigation following a ceasefire in Gaza.
Speaking at a meeting with major international shipping companies in Ismailia, Osama Rabie noted that recent developments have brought signs of stability, allowing for the gradual return of shipping operations in the region.
Tensions in the Red Sea had escalated during the Gaza conflict, with Yemen’s Houthi group launching attacks on Israeli-linked vessels in response to Israel’s military actions. However, a ceasefire agreement, which took effect on January 19, has helped ease regional hostilities.
Rabie emphasized that the Suez Canal is prepared to resume full operations and provide navigational services to global shipping lines. The disruptions had severely impacted Egypt’s economy, with Suez Canal revenues plummeting from $10.2 billion in 2023 to $4 billion in 2024.
The ceasefire, structured in three phases, includes a prisoner exchange and aims for a permanent truce, ultimately leading to Israel’s withdrawal from Gaza. As stability returns, shipping companies are expected to adjust their schedules and gradually restore normal operations in the Red Sea.