Suez Canal ship transits rise amidst the Covid-19 pandemic

Transits through the Suez Canal, the beating heart of the Egyptian economy, have stayed remarkably resilient to the fallout of the Covid-19 pandemic if judging by total transits of the three commercial shipping sectors which are up 8% year-on-year. This is despite bleak economic growth prospects world-wide following the pandemic, and highlights that shipping remains the backbone of the global economy. It is often said that a picture says more than 1,000 words, but 6,166 ship transits in the Suez Canal can certainly also tell an interesting tale. Data from Leth Agencies and the Suez Canal Authority highlight that in the first five months of 2020, oil tanker and dry bulker transits in the Canal are all up considerably, while the harsh conditions in the container shipping market have limited container ship transits.