Suez Canal revenues recover after Sharm El-Sheikh Peace Summit
The Egyptian government announced on Wednesday that the Sharm El-Sheikh Peace Summit, which included an agreement to end the war in Gaza, contributed to the resumption of navigation through the Suez Canal. The government noted that “many vessels have resumed transit,” with 229 ships passing through the canal in October 2025 — the highest monthly figure since the beginning of the crisis — positively impacting Suez Canal revenues.
Data from July to October 2025 showed a relative improvement, with 4,405 vessels carrying 185 million tons transiting the canal, compared to 4,332 vessels with 167.6 million tons during the same period in 2024. The Suez Canal Authority reported that revenues increased by 14.2% year-on-year, supported by calmer conditions in the Red Sea following the Sharm El-Sheikh Summit, which helped revive maritime traffic.
Egyptian Foreign Minister Badr Abdelatty stated that the canal had incurred losses estimated at 9 billion USD due to previous tensions and the rerouting of several vessels away from the Bab al-Mandab Strait. The Sharm El-Sheikh Peace Summit, held on October 13, brought together U.S. President Donald Trump, Egyptian President Abdel Fattah El-Sisi, Turkish President Recep Tayyip Erdoğan, and Qatari Emir Sheikh Tamim bin Hamad Al Thani, who signed a document aimed at establishing a ceasefire in Gaza and restoring regional stability.
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