Commercial shipping through the Suez Canal has dropped to its lowest activity level since the Ever Given disruption in 2021, a trend highlighted by Bloomberg based on data from the IMF and Oxford University. The canal, long a vital artery for global trade, has seen a noticeable slowdown in the daily passage of ships, underscoring shifting dynamics in maritime logistics and the broader implications for supply chains across North America and around the world. The latest figures point to a moment when even one of the world’s busiest choke points is not immune to broader disruptions and geopolitical tensions that ripple through shipping lanes, insurance costs, and the timing of cargo deliveries.
On average, the number of transit voyages via the Suez by bulk carriers, container ships, and tankers has fallen to about 49 per day. This marks a steep decline from the 83 passages recorded in June 2023 and stands in contrast with the prior year’s peak of roughly 70 passages. The shift in volume is not merely a numerical fluctuation; it signals a potential rebalancing of routing choices for carriers that must weigh risk, fuel expenses, and schedule reliability. In the North American and Canadian markets, where imports of consumer goods, machinery, and energy products depend on steady canal capacity, the reduction in throughput can translate into tighter schedules, higher freight rates, and adjusted procurement plans for importers and retailers.
The slowdown in canal traffic arrives at a moment when maritime security concerns off the African coast, especially near the Red Sea, have intensified. Attacks on vessels in the region have forced shipping lines to reevaluate routes, with many opting for the longer but safer passage around the Cape of Good Hope. For operators serving the Canada–US corridor, the recalibrated routes can mean longer transit times, altered insurance pricing, and changes in vessel deployment strategies to maintain supply chain resilience amid evolving risk landscapes. The resulting longer voyages also influence port congestion, vessel utilization, and the overall cadence of container scheduling in major North American gateways.
Analysts note an observable shift in global ship movements, including a higher frequency of vessels sailing around the African continent. Based on location data, the Ever Given’s recent decision to pursue the southern route to Europe appears to reflect broader strategic calculations by ship owners facing multifaceted pressures. These choices underscore how geopolitical events, insurance markets, and the anticipated reliability of alternative routes intersect to shape annual planning for fleets and freight buyers in Canada and the United States. The pattern also highlights the importance of diversified routing, fuel efficiency considerations, and the role of technology in tracking voyages and forecasting delays for stakeholders across North American supply chains.
Historically, the Red Sea has represented a critical segment of global trade routes, and the consequences of attacks in that region have been felt by maritime operators and export economies alike. The evolving security environment reinforces the need for comprehensive risk assessment, contingency planning, and collaboration among shippers, carriers, and policymakers to maintain steady access to vital markets. For Canadian and American businesses, proactive scenario analysis, diversified sourcing, and flexible inventory strategies become essential tools in mitigating the impact of potential disruptions and ensuring that essential goods move efficiently through global networks.
The Ever Given’s episode and the ongoing fluctuations in Suez Canal traffic serve as a reminder of the delicate balance that underpins international commerce. While the canal remains a cornerstone of global trade, external pressures—from regional security to global demand cycles—continue to test the reliability of maritime routes. Stakeholders across North America are paying close attention to these developments, adjusting procurement timelines, negotiating freight terms, and exploring buffer solutions to preserve supply chain fluidity in an uncertain environment. As markets adapt, the ability to anticipate shifts in routing and transit times will be a key competitive differentiator for businesses that rely on timely, cost-effective ocean transportation.