Suez Canal Revival Gathers Pace as Hormuz Crisis Reroutes Ships

By Mirette Magdy (Bloomberg) — Suez Canal revenue rose 42% in July from the year earlier, as the Iran war’s effective closure of the Strait of Hormuz and Houthi threats in the southern Red Sea led more ships to use the Egyptian waterway.

A total of 1,340 vessels transited the canal that month, according to data from state statistics agency CAPMAS. That’s 27% more than in July 2025 and compares with 1,208 ships this June, extending a partial recovery that began earlier in the year.

Oil tankers accounted for 526 of July’s vessels, versus 485 the month before.

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