Splash247: Suez traffic shows first signs of recovery

Latest shipping traffic data points toward a rise in Suez Canal transits, with authorities in Egypt hoping the recent truce announced by the Houthis will lead to a full-scale return to normal traffic on the artery connecting trade between Asia and Europe.

According to Clarksons data, on average in October, about 244 ships across all types transited the Suez Canal each week, and that figure is up to 269 ships for November. The latest figures compare to an average of 229 weekly crossings during the first nine months of 2025, though they remain well below the 495-500 weekly crossings seen prior to the diversions that began in late 2023.

Last week, the Houthis officially announced that they have paused maritime attacks in the wake of the ceasefire between Israel and Hamas. Today marks exactly two years since the Houthis hijacked Galaxy Leader (pictured) and started the Red Sea crisis. 

“The restoration of stability in the Red Sea requires shipping lines to rethink navigation schedules and return to transiting through Bab El-Mandab and the Suez Canal,” the Suez Canal Authority (SCA) chairman, Admiral Ossama Rabiee, said over the weekend while visiting a passing CMA CGM ship. Other global carriers are looking at resuming Red Sea transits, with Maersk reportedly close to making an announcement.

Earlier this month, the SCA announced plans to hold meetings with major carriers to encourage their return.

Typically, Suez Canal tolls account for around 1.5-2% of Egypt’s GDP. Pre-war in Gaza, the canal was earning more than $8.5bn in tolls a year, a figure that slumped by more than 50% last year. 

Shipping analysts at Jefferies, an American investment bank, are predicting that, should peace continue in Gaza, a return by many operators is likely during the first half of 2026.

By Jefferies’ estimates, containerships have seen a 10-11% tightening of supply due to the diversions around the Cape of Good Hope over the past two years, followed by roughly 2% for both crude and product tankers, 1.5% for each of LNG and LPG and 1% for dry bulk.