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As negotiations for shipping contracts commence, Suez Canal operations are proceeding as usual, despite the absence of key carriers

As negotiations for shipping contracts commence, Suez Canal operations are proceeding as usual, despite the absence of key carriers

101 finance101 finance2026/03/03 16:15
By:101 finance

Suez Canal Operations Remain Steady Despite Regional Tensions

While several leading shipping companies have reduced or halted their services and conflict in Iran continues to escalate across the Middle East, the Suez Canal Authority has reported that maritime traffic through this vital passage remains uninterrupted.

Osama Rabie, the chairman of the Suez Canal Authority, stated on Tuesday that ships are moving smoothly in both directions through the canal.

His remarks come as shipping companies and carriers are in the midst of negotiating annual long-term contracts.

On Monday, 56 vessels—representing a total of 2.6 million gross tons—passed through the canal.

Rabie emphasized that the recent outbreak of war involving Iran has not disrupted vessel movement, and that navigation services continue to operate 24 hours a day.

Since late 2023, the largest container ships and product tankers have rerouted away from the Suez-Red Sea corridor, choosing instead to sail around Africa’s southern tip. This shift followed attacks on shipping by Yemen’s Houthi rebels, who support Gaza. The Houthis have threatened to resume their assaults following the escalation of the Iran conflict, as Iran is a key backer of the group.

Monday’s figures included 24 ships in the northern convoy and 32 in the southern convoy. Over the past three days, 100 vessels have traversed the waterway linking the Mediterranean Sea with the Red Sea and Gulf of Aden, carrying a combined net tonnage of 3.8 million tons.

Recent Trends in Suez Canal Traffic

Before 2024, the Suez Canal saw consistent growth in traffic, reaching a record 26,434 vessel transits in 2023—a 10.8% increase from the previous year. Net tonnage also set a new high at roughly 1.568 billion tons, up 11.2% year-over-year.

However, in 2025, traffic through the canal remained significantly below these peaks, with 12,758 ships passing through—a 3.4% drop from 13,213 in 2024. Net tonnage also declined slightly to 522 million tons, reflecting ongoing disruptions caused by the Red Sea crisis.

Major Shipping Lines and Security Concerns

Rabie addressed recent decisions by CMA CGM and Maersk to pause their transits through the Suez Canal, describing these moves as temporary and dependent on how the regional security situation evolves.

He expressed hope that improvements in security would soon restore normal shipping activity, given the crucial role of safe navigation in the region.

Industry analysts warn that ongoing conflict could keep major carriers away from the Suez Canal until at least 2026.

Earlier this year, Maersk and CMA CGM made a cautious return to the route, which had mixed effects on global shipping rates. While diversions had absorbed the capacity of about 2.5 million containers, the return of these vessels could put further downward pressure on already weak ocean freight rates.


Further Reading

Related Coverage

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