Post by : Badri Ariffin

The Suez Canal, a vital artery of global trade, is witnessing a notable revival after years of fluctuating maritime traffic. Officials report that the Canal’s revenues for the current year are expected to reach approximately $4.2 billion, up from $3.9 billion the previous year. This follows a historic peak of $10.2 billion recorded in 2023.

A surge in vessel traffic is driving the recovery. October alone saw a 16% increase in ships passing through the Canal compared to the same month last year. Dollar-denominated revenues for the period also grew by 17%, highlighting the strengthening of the Canal’s role in international trade.

Traffic statistics underscore this rebound. In 2023, a record 26,434 vessels transited the Canal, significantly higher than the 13,213 vessels recorded in 2024. Experts attribute this resurgence to improving regional stability and a gradual recovery in global shipping demand.

The revival of the Suez Canal is being closely watched by global shipping companies, with analysts noting that sustained traffic growth could strengthen Egypt’s position as a key maritime hub and boost related economic activities along the Red Sea corridor.

#Business News #Economic