The relative calm in the Red Sea following the ceasefire in the Gaza Strip is bringing international shipping back to the canal. Revenues of the Suez Canal Authority increased by 14.2% between July and October compared to last year.
The Authority's chairman, Osama Rabie, stated that 229 ships passed through the canal in October – the highest monthly figure since the beginning of the Red Sea crisis.
During the past four months, 4,405 ships passed through with a total cargo of 185 million tons, compared to 4,332 ships and 167.6 million tons in the corresponding period in 2024.
Rabie noted that the major companies – including the French CMA CGM – have resumed sailings through the canal and that Egypt is working “to restore confidence in the safest maritime passage between Asia and Europe.”