Arab Finance: The Suez Canal activity retreated by 52% year on year (YoY) in fiscal year (FY) 2024/2025 amid continued global uncertainty and the geopolitical tensions in the region, the Ministry of Planning, Economic Development, and International Cooperation announced.

The canal’s activity fell by 5.5% in the fourth quarter (Q4) of FY2024/2025 due to the base-year effect, compared to the same quarter of the previous year, which had recorded a contraction of 68.2%.

The ministry’s report attributed the drop to a decline in vessel numbers and tonnage transiting the canal.

In this regard, the Suez Canal Authority (SCA) introduced incentive packages and reduced transit fees to mitigate the adverse impact.

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