Suez Canal Revenue Surges 42% as Hormuz Closure Reroutes Shipping

Suez Canal revenue rose 42% year-on-year in July, driven by the effective closure of the Strait of Hormuz due to the Iran war and persistent Houthi threats in the southern Red Sea, which have rerouted more vessels through the Egyptian waterway. The shift underscores a major realignment of global shipping routes, with implications for transit costs, insurance, and energy flows. The sustainability of this rerouting depends on the duration of the Hormuz closure and Red Sea security conditions.