Suez Canal boosts revenue amid Strait of Hormuz crisis
Suez Canal revenue in July rose 42% to $505 million, the best monthly result since December 2023. The increase is attributed to the redirection of maritime traffic away from the Strait of Hormuz and Houthi threats in the southern Red Sea.
Sources
· 7Доходы Суэцкого канала выросли на 42% в июле на фоне кризиса в Ормузском проливе
1Министр энергетики США: ВМС продолжат сопровождение в Ормузском проливе, пока Иран не отступит
2Трекеры и Белый дом разошлись в оценках нефтяного трафика через Ормузский пролив
3Рекордная добыча в США смягчает шок от закрытия Ормузского пролива
4Глава TotalEnergies: доставка супертанкером через Ормузский пролив стоит $20 млн
5Временная сделка Ирака с Турцией ослабляет блокаду Ормузского пролива, но доверие хрупко
6Южная Корея готовит корабль поддержки для возможной отправки в Ормузский пролив
7Key points
- Suez Canal revenue in July rose 42% year on year to $505 million — the highest monthly figure since December 2023.
- The canal handled 1,340 vessels in July, 27% more than in July 2025 and up from 1,208 in June.
- US Energy Secretary Chris Wright: oil transit through the Strait of Hormuz averages more than 9 million barrels per day, and the Navy will continue escort operations until Iran changes its position.
- Kpler and White House data diverge: the tracker reported five vessels on Monday, while Wright spoke of more than 17 million barrels of oil; oil rose above $95 per barrel.
- The Suez Canal Authority expects annual revenue of $5.8–6 billion versus $4.1 billion in 2025.
Why it matters
The Strait of Hormuz is essential for maintaining oil supplies: according to US Energy Secretary Chris Wright, transit through it averages more than 9 million barrels per day. The US Navy is escorting tankers, and Wright said these operations will continue until Iran changes its position. TotalEnergies estimates the additional cost of chartering a supertanker through the Strait of Hormuz at about $20 million, or $10 per barrel. Meanwhile, traffic data is contradictory: Kpler reported that only five vessels crossed the strait on Monday, while Wright spoke of more than 17 million barrels of oil, and oil prices climbed above $95 per barrel.
Previously
- Record US oil production and exports helped cushion the global shock from the closure of the Strait of Hormuz.
- Iraq and Turkey signed a temporary oil transit agreement on August 1 with a target volume of 750,000 barrels per day.
- South Korea has begun preparations for the possible deployment of a support ship to the Strait of Hormuz.
Related original articles
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- 5d agoТрекеры и Белый дом разошлись в оценках нефтяного трафика через Ормузский проливYahoo Finance