Oil tankers through Suez up 28%
Oil tanker transit through the Suez Canal increased in April 2026, reaching 529 ships, a 28% rise compared to the same period last year. This led to canal revenues reaching their highest level since the beginning of 2024, totaling $419 million, up by 27%. The closure of the Strait of Hormuz due to the war in the Middle East prompted oil tankers to seek alternatives such as the Suez Canal. This shift contributed to a boost in traffic and generated additional revenue for the canal. Additionally, the increased earnings help improve the dollar's position in the Egyptian market and reduce the trade deficit.
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