Suez transits climb as Strait of Hormuz attacks keep Middle East routing risk high
Suez Canal transits are up sharply year on year as more container services return, adding Asia–Europe capacity. Meanwhile, new attacks on vessels in the Strait of Hormuz keep Gulf routings and rates under pressure.
- Drewry: Suez Canal transits in week 39 were 68% higher than in the same week last year, adding capacity to Asia–Europe.
- Several vessels, including an Aframax tanker, were reported hit in the Strait of Hormuz on 4 October.
- Drewry put Shanghai–Jebel Ali spot rates at $8,662 per 40ft on 1 October.
- Only some carriers have moved services back to Suez, and all describe the routing as conditional on security.
More ships return to the canal
Container traffic through the Suez Canal keeps recovering. On 1 October, Drewry reported that canal transits in week 39 were 68% above the same week a year earlier. The extra transits add capacity to the Asia–Europe trade while demand is weak. Drewry also noted that uncertainty over Houthi activity has not gone away.
The return is partial and varies by service. In mid-September, the Gemini Cooperation of Maersk and Hapag-Lloyd announced it would switch more services from the Cape of Good Hope back to the canal. These were AE11 and AE12 (Asia–Mediterranean), AE5 (Asia–North Europe) and ME2 (India–Europe), with the AE12 start date still to be announced. Maersk, Hapag-Lloyd, MSC, CMA CGM and COSCO have each moved selected loops back through Suez. Evergreen, ONE, HMM and Yang Ming have not. Canal traffic remains well below pre-crisis levels. In its October issue, Container News highlighted that Europe's naval escort mission has run out of frigates just as container lines increase their use of the canal.
Hormuz remains a flashpoint
Further east, disruption in the Strait of Hormuz continues. On 4 October, Riviera Maritime Media reported that multiple vessels had been hit in the strait. A maritime security firm named one of them as the Lipsi, a 115,057-dwt Aframax tanker newly built for Dynacom.
The impact shows in Gulf-bound container pricing. Drewry said the worsening situation in the Middle East kept spot rates from Shanghai to Jebel Ali high, at $8,662 per 40ft container in its 1 October assessment.
| Indicator (Drewry, 1 October 2026) | Value |
|---|---|
| Suez Canal transits, week 39, year on year | +68% |
| Shanghai–Jebel Ali spot rate | $8,662 per 40ft |
What this means for shippers
- On Asia–Europe, more Suez capacity adds downward pressure on rates. However, carriers can reverse routings at short notice if security gets worse.
- Ask whether your booking is on a Suez or a Cape service. The routing affects transit time and arrival planning.
- Check contract terms on route deviations and any security-related surcharges.
- For cargo to or from the Gulf, expect rates to stay high and schedules to stay uncertain while Hormuz incidents continue.