Suez Canal revenues hit $495 million in July, with ship traffic up 27% as oil tanker routes shift due to Hormuz tensions.
Suez Canal recovery accelerates: Revenue rises to $495 million
Ship traffic and revenues in the Suez Canal continued to rise in July. According to official Egyptian data, the number of vessels passing through the canal increased by 27% year-on-year to 1,340, while monthly revenue reached $495 million. The crisis in the Strait of Hormuz and security risks in the Red Sea have particularly reshaped the routes of oil tankers.
According to data released by Egypt's Central Agency for Public Mobilization and Statistics (CAPMAS), the revenue of the Suez Canal in July increased by 25% compared to the same month last year. Revenue, which was $450 million in June, rose by approximately 10% to $495 million in July. In July 2025, revenue was at $359 million.
Ship traffic increased by 27%
The recovery of the canal in July was also reflected in ship traffic. In July, 1,340 vessels passed through the Suez Canal. This figure represents a 27% increase compared to the 1,055 vessels recorded in the same month last year.
Of the vessels that transited, 526 were oil tankers. The number of oil tankers in July last year was at 432.
The number of other vessels also increased from 623 to 814. The total net tonnage transported through the canal rose by 40% year-on-year, reaching 62.8 million tons.
Oil tanker routes changed
One of the notable elements of the increase in July was the rise in oil tankers.
The war and security risks in the Middle East have increased the importance of alternative routes in energy transportation. Serious traffic restrictions in the Strait of Hormuz and threats from the Houthis in Yemen regarding maritime transport to Saudi Arabia have altered the direction of some oil shipments.
Some oil shipments from Saudi Arabia to Asia, instead of reaching Bab el-Mandeb from the south of the Red Sea, were redirected north through the Suez Canal. This change, although longer and more costly, provided a security alternative.
According to Reuters, in July, some tankers, after loading from Yanbu, altered their routes to the Suez Canal instead of proceeding south through Bab el-Mandeb. Thus, the risks at two critical transit points in the region, Hormuz and Bab el-Mandeb, began to directly influence the routing decisions in energy transportation.
Revenue reached $2.88 billion in the first seven months
The recovery in the Suez Canal was not limited to July alone.
In the first seven months of 2026, the canal's total revenue reached $2.88 billion. This represents a 29% increase compared to approximately $2.4 billion during the same period last year.
Usame Rabi, the Chairman of the Suez Canal Authority, also stated in early September that the return of international shipping companies to the canal has accelerated, predicting that by the end of 2026, canal revenues could reach between $5.8 billion and $6 billion. This forecast is significantly above the approximately $4.1 billion level expected in 2025.
Recovery continues, but levels before the crisis have not been reached
Nevertheless, traffic in the Suez Canal has not yet returned to the levels prior to the Red Sea crisis.
In 2023, the canal achieved a record annual revenue of $10.25 billion with the passage of 26,434 vessels. However, due to attacks in the Red Sea and security concerns, the number of vessels in 2024 dropped to 13,213, and revenue fell to $3.991 billion.
Traffic remained low in 2025 as well. According to statistics from the Suez Canal Authority, 12,758 vessels passed through the canal last year.
In the 2025-2026 fiscal year, revenue rose to $4.67 billion, marking a 23% increase compared to the previous fiscal year. This increase was one of the first significant indicators of the gradual return of international shipping companies to the Red Sea and Suez routes.
Suez is becoming an energy corridor again
Recent data indicate that the recovery in the Suez Canal cannot be explained solely by the return of container ships. The increasing passage of oil tankers signifies that the canal is regaining importance with the changing routes of energy trade in the region.
As long as uncertainty in the Strait of Hormuz and security threats in Bab el-Mandeb persist, the routing preferences of energy companies and shipowners will remain variable. This situation may lead to increased use of the Suez Canal in the coming months, particularly in oil and energy transportation.
However, merely increasing tanker traffic will not be sufficient for the canal to return to the record levels of 2023. The resumption of regular services by major container lines and other international carriers through the Red Sea will be decisive. The Suez Canal Authority also links the approach of revenues to $6 billion to the return of more shipping lines to the canal.
Source: SeaNews Türkiye
