CPA President: Cyprus suffered 20% losses from Aden-Suez crisis

08:26 - 26 January 2024

Economy

The recent events in the Gulf of Aden and the Suez Canal have resulted in losses for the Republic of Cyprus of around 20%, said the President of the Cyprus Ports Authority, Dr Antonis Stylianou.

He was speaking at a press conference at the Old Port of Limassol on Thursday, during which the work carried out by the outgoing Board of Directors of the Authority was presented.

According to Stylianou, "Recent events concerning the crisis in the Gulf of Aden and the Suez Canal have resulted in losses for the Republic of Cyprus of the order of about 20%, whether it concerns the metric tonnes of containers, TEUs, about 18%, while in general cargo we have seen a decrease of 17%".

"In the broader merchant ship handling sector, there has been a decrease of about 22%, which is essentially a consequence of the Houthi crisis with the piracy activities taking place as we speak in the greater Suez Canal area," he concluded.

CPA President: Cyprus suffered 20% losses from Aden-Suez crisis

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