Ship in the Suez Canal. Ahram Gate.
According to an SCA statement, the move responds to the demands of many clients, including ship owners and container ship operators, and aims to encourage major shipping lines to resume using the Suez Canal.
It also comes amid favourable conditions and relative stability in the security situation in the Red Sea region.
A ceasefire between the US and Yemen’s Houthi rebels — brokered by Oman on 6 May after weeks of US airstrikes — has raised hopes for restoring stability in the Red Sea, a key global shipping corridor.
The announcement coincided with a meeting in Cairo between Suez Canal Authority (SCA) head Osama Rabie and Italian Ambassador Michele Quaroni, who discussed expanding cooperation in maritime and economic sectors.
Rabie stressed the SCA’s continued efforts to respond flexibly to regional challenges.
Quaroni highlighted the Suez Canal's strategic importance to global trade and voiced hope that the truce would restore traffic to pre-crisis levels.
He also praised Egypt’s role in promoting regional stability and peaceful conflict resolution.
Since the start of Israel’s war on Gaza in October 2023, the Houthis have targeted Israeli-linked ships, disrupting traffic and forcing major carriers to reroute via the Cape of Good Hope — a more protracted and more expensive journey. The disruption slashed canal revenues by over 60 percent in 2024, costing Egypt an estimated $7 billion.
Signs of recovery began in February. Rabie said 166 vessels had returned to the canal route in March following a brief Gaza ceasefire that eased tensions in the Red Sea.
The Suez Canal handles around 12 percent of global trade, and alongside tourism and remittances, it remains a vital source of foreign currency for Egypt.
Canal modernization and economic ties
Rabie reaffirmed the SCA’s commitment to supporting global supply chains by modernizing logistics services and deepening ties with maritime clients and partners.
He stated the authority is pursuing partnerships with major international companies and aligning its operations with shifts in the marine industry.
He also expressed interest in strengthening cooperation with Italian firms across shipbuilding, logistics, and port services.
Quaroni welcomed the proposal and reiterated Italy’s interest in closer economic and maritime ties with Egypt.
He highlighted opportunities for collaboration in marine tourism, vessel construction, and maintenance.
He supported encouraging Italian yachts to use the Suez Canal and its affiliated marinas rather than detouring via the Cape.
Short link: