CAIRO, Jan. 21 (Xinhua) -- Suez Canal Authority (SCA) Chairman Osama Rabie said Wednesday that the waterway revenues in the first quarter of the fiscal year 2025-2026 increased by 18.5 percent year-on-year, according to an SCA statement. Fiscal year in Egypt starts in July.

In a meeting with representatives of 20 shipping agencies, Rabie said that number of crossing ships and tonnage also increased by 5.8 percent and 16 percent respectively in the same period. These positive indicators signal a recovery in navigation traffic through the canal, he said.

The meeting seeks to coordinate with clients over navigation schedules in the coming period given the current stable conditions in the Red Sea region and the Bab al-Mandab Strait, Rabie said.

Since December 2023, attacks by Yemen's Houthi group in the Gulf of Aden and the Red Sea had forced many major shipping companies to reroute around the southern tip of Africa, bypassing the Suez Canal. However, the Houthis have ceased attacks on commercial vessels since the Gaza ceasefire in October 2025. ■