The Suez Canal Authority (SCA) reported Monday that traffic and revenues through the waterway have surged since the start of the current fiscal year in July, signaling a recovery after two years of disruption.
Chairman Osama Rabie said 5,874 vessels transited the canal since July 1, generating $1.97 billion in revenue — a 17.5 percent increase from the same period last year. Net tonnage rose 14.4 percent to 247.2 million tonnes, while vessel numbers climbed 5.2 percent.
Rabie told an International Monetary Fund mission that long-term projections show continued growth, with revenues forecast to reach $8 billion in fiscal year 2026/2027 and $10 billion in 2027/2028.
Last month, he said canal revenues are expected to reach $4.2 billion in 2025, up from $3.9 billion in 2024, though still below the record $10.2 billion in 2023.
That decline was largely due to regional tensions and attacks by Yemen’s Houthi group in the Gulf of Aden and Red Sea, which forced shipping companies to reroute around Africa.
The Houthis have ceased attacks on commercial vessels since the Gaza ceasefire in October, easing pressure on global shipping and boosting canal traffic.
