Suez Canal Ship Crossings Down By 60% Compared To 2023, Says BIMCO Report

Ship crossings in the Suez Canal in the first week of January 2026 were 60% less compared to the 2023 figure in the same period.

However, the number of ships taking the Red Sea route has increased compared to the last two years, according to a report by BIMCO.

The last attack on a ship in the Gulf of Aden happened on September 29, 2025, after which Houthis ended all attacks on vessels, encouraging shipping companies to start using the strategic route again.

A Maersk ship used the route for the first time in two years on December 19, 2025, and CMA CGM is also returning to the route with its vessels, making port calls at Port Said and Malta.

Additionally, recent reductions in the Red Sea war risk premiums have urged operators to revert to the Suez Canal routings.

In December, premiums decreased to 0.2% of hull values, the lowest since November 2023.

Experts suggest more ships might return to the route, but how fast this happens remains to be seen.

A return to the Suez Canal would decrease the costs for shipping companies but also impact ship demand.

A complete normalisation would decrease container ship demand by 10%, and other sectors might witness a 2-3% reduction.

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