CAIRO — On March 18, 2026, Egyptian Minister of Foreign Affairs Badr Abdelatty received a phone call from Singapore’s Foreign Minister Vivian Balakrishnan to discuss the escalating security threats in the Red Sea. Both ministers emphasized that the stability of the Red Sea is vital for the global economy and called for enhanced international cooperation to secure the waterway. This diplomatic push follows a 'cautious return' of commercial shipping to the Suez corridor in early 2026, which has been jeopardized by a recent rise in hostilities and Houthi threats linked to wider regional conflicts. Naval experts noted that while the EU's Operation Aspides has been extended to February 2027, the emergence of advanced uncrewed surface vessels and ballistic missile threats continues to keep insurance premiums at crisis levels. Egypt remains particularly concerned as Suez Canal revenues continue to fluctuate, impacting the national economy, while Singapore highlighted the risks to transshipment hubs in Southeast Asia.