Suez Canal Traffic Rises as Truce Sparks Hope for Full Red Sea Recovery

Latest shipping traffic data shows a steady rise in Suez Canal transits, with ships returning to the key Asia–Europe artery after the Houthis announced a pause in maritime attacks. Clarksons reports an average of 269 weekly transits in November, up from 244 in October and above the 229-ship weekly average seen earlier this year. While still far below the pre-2023 levels of nearly 500 weekly crossings, the increase signals renewed confidence among carriers.

Suez Canal Authority chairman Admiral Ossama Rabiee urged shipping lines to revisit routing plans and resume normal navigation through Bab el-Mandab and the canal. Several global carriers are reportedly close to restoring Red Sea transits, and the SCA is holding meetings to accelerate the return.

Before the conflict, the Suez Canal contributed 1.5 to 2% to Egypt’s GDP, generating over $8.5bn annually, but revenues plunged by more than half last year. Analysts at Jefferies expect that if peace holds, the majority of operators could fully resume Suez transits by the first half of 2026. Over the past two years, diversions around the Cape of Good Hope tightened global vessel supply, by 10 to 11% for containerships, around 2% for crude and product tankers, 1.5% for LNG and LPG, and 1% for dry bulk, highlighting the significant impact of the crisis on global shipping.