During a panel at the Global Logistics Forum, Rabie shared that recent statistics reveal a decline in vessel transit, with the number of ships passing through the canal dropping from 25,887 in the FY2022/2023 to 20,148 in FY2023/2024.
Badawi stated that the agreement marks the beginning of future opportunities for expanded cooperation.
For the third year in a row, C-S will be taking place at MIP’s Cairo Business Park, East Cairo's premier hub for entrepreneurship and innovation.
The company also increased reserves through exploration and development activities by 9.2 million barrels of oil equivalent.
This sharp decline is attributed to ongoing Houthi attacks on vessels navigating the Red Sea, prompting many shipping lines to divert to safer routes, particularly around the Cape of Good Hope.
