Hormuz Crisis Unexpectedly "Revives" Suez Canal: July Revenue Surges 42% to Two-and-a-Half-Year High

Affected by restricted passage through the Strait of Hormuz and the return of some European shipping lines to the Red Sea, Suez Canal revenue rose 42% year-on-year to $505 million in July, with vessel transits up 27% to 1,340 ships. Energy transportation accounted for the main increase, but current transit volume is only 58% of the 2023 peak, and a full recovery will take time.