Suez Canal Ready to Resume Full Operations Amid Global Trade Recovery Efforts

The Suez Canal Authority (SCA) has announced that the canal is prepared to resume full operations and receive maritime services from major shipping companies as international trade begins to flow smoothly through the canal. This statement was made during a meeting between SCA Chairman Osama Rabie and International Maritime Organization (IMO) Secretary General Arsenio Dominguez. They discussed the necessary steps to resume maritime traffic and ensure the smooth operation of global trade routes. Rabie emphasized that the resumption of operations is contingent on stability in the Red Sea and Bab al-Mandab regions, aligning with efforts to support international trade.

Despite recent challenges, the Suez Canal is poised for recovery. In the first quarter of the 2024/2025 fiscal year, the number of ships using the canal dropped significantly by 51% compared to the same period last year, mainly due to tensions in the Red Sea. Revenue from transit also saw a sharp decline, falling from $2.4 billion to $931.2 million, indicating a 61.2% decrease. However, efforts are being made to revitalize the canal’s traffic and revenue, with shipping company CMA CGM already sending ships through as part of a new service on the South Asia-Europe trade route.

SCA Chairman Rabie reaffirmed the commitment to providing seamless shipping services by adapting to changing customer needs and industry trends. The Suez Canal is undergoing upgrades to enhance crisis management and security, with plans to expand capacity to accommodate more ships. Additionally, the Suez Canal expansion project in the Small Bitter Lakes is set to commence in the first quarter of 2025, further improving navigation and operational efficiency. Environmental sustainability efforts, such as the “Green Suez Canal” initiative, also seek to promote eco-friendly practices in maritime operations.

Source