On October 6th, the Suez Canal Authority of Egypt issued a statement stating that since the beginning of 2024, the revenue of the Suez Canal has decreased by 60% year-on-year, and the number of transit vessels has decreased by 49%. The chairman of the management bureau pointed out that the tense situation in the Red Sea region has led shipping companies to avoid the canal. Data shows that canal revenue has decreased from $9.4 billion in the previous fiscal year to $7.2 billion. The worsening situation in the Red Sea not only increases pressure on other shipping routes, but may also push up global trade logistics costs. The Suez Canal is an important financial source for Egypt, and its sharp decline in revenue poses a challenge to the Egyptian economy. The Egyptian government is collaborating with international maritime agencies and shipping companies to seek solutions to mitigate the impact on global trade.