Suez Canal Activity Records 8.6% Growth for the First Time Since the Second Quarter of the Fiscal Year 2023-2024
Suez Canal activity records a positive growth of approximately 8.6%.
SUMMARY
Suez Canal activity sees positive growth for the first time in a long time.
KEY HIGHLIGHTS
- 8.6% growth in Suez Canal activity.
- Restoration of confidence among global shipping companies.
CORE SUBJECT
Recovery of Suez Canal Activity
The Ministry of Planning, Economic Development, and International Cooperation announced that the recovery of Suez Canal activity recorded a positive growth of approximately 8.6% during the first quarter of the fiscal year 2025/2026, marking the first time since the second quarter of the fiscal year 2023/2024.
The ministry clarified that this growth came with the gradual return to stability in the Red Sea region, which contributed to restoring the confidence of global shipping companies and their renewed reliance on the Suez Canal as a main route.
It is worth noting that Suez Canal activity had experienced negative growth rates for nearly a year and a half due to geopolitical tensions that adversely affected the number of ships passing through the canal.