ANKARA

Egypt said Wednesday that maritime security in the Red Sea has improved in recent months, calling on foreign governments and shipping firms to reroute vessels back to the Suez Canal.

“The Suez Canal is the world's main shipping artery and a source of pride for every Egyptian citizen,” Prime Minister Mostafa Madbouly said during a ceremony attended by foreign ambassadors.

The premier said that attacks on ships in the Red Sea have stopped since December 2024. He called on foreign ambassadors “to convey this message to their countries and work to return cargo ships through the Suez Canal.”

A main source of foreign currency for Egypt, the Suez Canal revenues have sharply plummeted since the outbreak of the Gaza conflict amid attacks by Yemen’s Houthi group on commercial ships in the Red Sea.

In 2024, canal revenues dropped by over 60% compared to 2023, resulting in an estimated loss of $7 billion.

Since last month, the US has launched a massive aerial campaign against Houthi targets across Yemen over its attacks on shipping.

The Houthis have been attacking Israeli-linked ships passing through the Red and Arabian seas, the Bab al-Mandab Strait, and the Gulf of Aden with missiles and drones since late 2023, disrupting global trade for what it said was a show of solidarity with Gaza.

The group halted attacks when a ceasefire in Gaza was declared in January between Israel and the Palestinian resistance group, Hamas, but resumed the assault after Israel renewed airstrikes on the enclave last month after breaking the ceasefire.

The Red Sea is one of the world's most frequently used sea routes for oil and fuel shipments.