Egypt’s SCA inaugurates new projects, reviews strategy for next phase

CAIRO – 31 July 2025: As part of the celebrations marking the 69th anniversary of the nationalization of the Suez Canal, Admiral Osama Rabie, Chairman of the Suez Canal Authority (SCA), will inaugurate several new projects on Thursday.

The projects include the opening of a new water station in Ismailia, several floating bridges, and the commissioning of multiple marine units.

The event will also feature a presentation by Admiral Rabie on the latest developments in canal navigation, maritime activity, and service operations. In addition, he is expected to outline the Authority’s strategic plan for the upcoming phase, amid ongoing unrest in the Red Sea stemming from the conflict between Yemen’s Houthi forces and Israel over the war in Gaza.

On July 27, 2025, the Houthi Armed Forces announced the escalation of their military operations, launching the fourth phase of their naval blockade against Israel. This phase involves targeting any vessel owned by companies that do business with Israeli ports—regardless of the ship's nationality or location—provided it is within the Houthis' reach.

The Houthis also issued a warning: “All companies must immediately cease dealings with the Israeli enemy’s ports. Otherwise, their ships—regardless of destination—will be targeted wherever they may be within range of our missiles and drones.”

Due to these ongoing tensions in the Red Sea and Bab al-Mandeb, the Suez Canal’s revenues declined by 61% in 2024, dropping to $3.991 billion from $10.250 billion in 2023. This was revealed by Admiral Rabie during the SCA’s "Excellence Day" event on April 17, 2025.

Rabie also reported that the canal generated $39.919 billion in total revenues from 2019 to 2024. This period was marked by a series of disruptions, including the COVID-19 pandemic, the Ever Given grounding in 2021, and persistent regional conflicts. Annual revenues were $5.804 billion in 2019, $5.606 billion in 2020, $6.334 billion in 2021, $7.934 billion in 2022, and peaked at $10.250 billion in 2023.

On March 9, 2025, President Abdel Fattah El-Sisi stated that Egypt is losing approximately $800 million per month in Suez Canal revenues due to ongoing regional instability.