Egypt announced that its economy has suffered about $6 billion due to the repercussions of the attacks launched by the terrorist Houthi militia on cargo ships in the Red Sea and Bab al-Mandab for about a month.

Danish shipping group A.P. Moller-Maersk said on Thursday it expects strong demand for cargo shipping around the world to continue in the coming months, although it does not expect sailings through the Suez Canal to resume until 2025.

Major shipping companies, such as Hapag-Lloyd and Maersk, have stopped using routes through the Red Sea and the Suez Canal since last November, due to the Houthi group targeting ships, which disrupted global trade.

A research study showed that traffic at ports in the Red Sea has decreased by 85% since the beginning of Houthi attacks on commercial ships, while traffic in the Suez Canal has decreased by about 66% during the same period.

The repercussions of the Red Sea traffic crisis due to attacks by the Houthi group on passing ships continue to affect maritime shipping, supply chains and the cargo shipping industry.

First-half earnings in Asia revealed that the ongoing impact of the Red Sea crisis will continue to be a costly burden for companies that manufacture goods for export, while companies that transport these goods benefit from higher freight rates as the crisis deepens.