Suez Canal revenue rises 42% in July as Hormuz crisis reroutes ships

September 8, 2026 at 12:23 PM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

Suez Canal revenue rose 42% in July from a year earlier to $505 million, the highest monthly level since December 2023, as the effective closure of the Strait of Hormuz and Houthi threats in the southern Red Sea pushed more ships to the Egyptian waterway. A total of 1,340 vessels transited the canal in July, 27% more than in July 2025 and up from 1,208 in June. The Suez Canal Authority expects full-year revenue to climb to between $5.8 billion and $6 billion from $4.1 billion in 2025.

Key Facts

Suez Canal revenue reached $505 million in July, up 42% from a year earlier and the highest monthly level since December 2023.
1,340 vessels transited the canal in July, 27% more than in July 2025 and up from 1,208 in June.
Oil tankers accounted for 526 of July's vessels, versus 485 the month before.
The Suez Canal Authority expects full-year revenue to climb to between $5.8 billion and $6 billion from $4.1 billion in 2025, Chairman Osama Rabie said.
The canal brought in a record $10.2 billion in 2023 and about 2,300 ships crossed in April of that year, according to CAPMAS data.

Traffic Recovery

The July increase likely at least partly reflects the rerouting of Saudi Arabian oil exports via the Red Sea due to the shuttering of Hormuz. A subsequent threat from Yemen's Houthi rebels has spurred many ships to exit north rather than cross the Bab El-Mandeb, another chokepoint. Traffic volumes plunged in early 2024 when the Houthis began targeting international shipping in the southern Red Sea to pressure Israel during its war against Hamas in Gaza. Despite the recent uptick, both crossings and revenue remain far below their pre-Gaza war levels.

Revenue Outlook

The waterway that's the shortest sea route between Europe and Asia has, along with tourism and overseas remittances, traditionally been a key source of foreign exchange for Egypt. The resurgence is expected to continue in the coming months, with both the re-rerouting of Asia-bound oil exports and a number of European shippers announcing the resumption of some of their Red Sea services, said Mohamed Abu Basha, head of macroeconomic analysis at investment bank EFG Hermes.