47 ships reroute to Suez Canal in Feb as regional stability improves – chair

A total of 47 ships have changed their routes to transit through the Suez Canal instead of the Cape of Good Hope since the beginning of February, as shipping lines respond to growing signs of stability in the Red Sea. According to Osama Rabie, Chairman of the Suez Canal Authority (SCA), this trend is expected to continue, with more vessels likely to return to the canal in the coming weeks as security conditions improve.

Speaking at the 14th International Maritime Transport and Logistics Conference (MARLOG 14) on Sunday, Rabie emphasised that the Red Sea crisis has presented unprecedented security challenges that have disrupted global supply chains and increased costs for shipping companies. He stressed the need for greater international cooperation to mitigate the crisis’s impact and ensure the uninterrupted flow of maritime trade.

SCA’s Strategic Response to Red Sea Crisis

SCA has implemented several strategic measures to support shipping companies and minimise the effects of the crisis, Rabie noted. These measures include maintaining stable pricing policies to provide cost predictability for operators, strengthening direct communication with shipping lines to address concerns, and introducing new marine and logistics services. The newly introduced services include ship maintenance, marine rescue, pollution control, medical evacuation, crew changes, and refueling services.

These measures have helped reassure global shipping companies and have contributed to the return of vessels to the Suez Canal as a preferred trade route.

Development Continues Despite Challenges

Rabie confirmed that, despite the ongoing challenges, the Suez Canal Authority remains committed to its ambitious development plans under the leadership of President Abdel Fattah El-Sisi. He announced that the southern sector expansion project has been successfully completed and is now fully operational. This project provides several key advantages, including enhanced navigational safety, reduced impact of water currents on transiting ships, and an increased daily capacity to accommodate an additional six to eight vessels.

More Shipping Lines Expected to Return

SCA chairjman expressed confidence that, as stability in the region continues to improve, more shipping companies will opt for the Suez Canal instead of longer and more expensive alternative routes. He noted that, although security concerns, insurance costs, and supply chain disruptions initially led many companies to divert their vessels, recent developments indicate a gradual shift back to the Suez Canal.

Attribution: Amwal Al Ghad English