Suez Canal traffic recovers amid Strait of Hormuz crisis

Shipping traffic through the Suez Canal continues to recover as maritime routes are redirected amid the crisis in the Strait of Hormuz. Canal revenue rose 42% year-on-year in July to $505 million, the highest monthly level since December 2023, Bloomberg reported.

A total of 1,340 vessels transited the Suez Canal in July, up 27% from a year earlier and compared with 1,208 vessels in June. The number of oil tankers increased to 526 from 485 a month earlier.

Traffic has been supported by the rerouting of some maritime shipments following the effective closure of the Strait of Hormuz. In particular, some Saudi Arabian oil exports have been redirected through the Red Sea. At the same time, security conditions around the Bab el-Mandeb Strait continue to affect shipping routes.

The Suez Canal Authority expects traffic to continue recovering. It forecasts annual revenue of $5.8–6 billion in 2026, up from $4.1 billion in 2025. The gradual resumption of some Red Sea services by European shipping companies could also support traffic.

Despite the recovery, Suez Canal traffic remains well below levels seen before the Red Sea crisis. In 2023, the canal generated a record $10.2 billion in revenue, while around 2,300 vessels transited the waterway in some months.

Tags: shipping, shipping traffic, Hormuz, Suez Canal