Suez Canal revenues jumped 18.5% y-o-y in 1H FY 2025/26 to record USD 2 bn — buoyed by a 5.8% rise in vessel transits and a 16% increase in net tonnage, Suez Canal Authority (SCA) Chairman Osama Rabie said last week. The pickup signals a slight recovery after over two years of disruption.

But don’t hold your breath just yet: The figures are still well below pre-2023 levels, where the canal’s top line recorded USD 4.3 bn in 1H FY 2022/23, based on our calculations. With the authorities now targeting USD 8 bn in revenues by FY 2026/27, there’s still a long way to go.

Shipping lines are testing the waters: Operators have begun edging back –– with France’s CMA CGM and Maersk making a cautious return by testing rerouted Asia-US services via the Red Sea.

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