(MENAFN) Traffic through Egypt’s Suez Canal has increased by over 10% in recent months, reflecting improving stability in the region, according to local authorities.

Admiral Ossama Rabiee, chairman of the Suez Canal Authority (SCA), reported that from July to October, 4,405 vessels transited the canal, carrying 185 million tons of cargo — up from 4,332 ships and 167.6 million tons during the same period last year. In October alone, 229 vessels passed through, marking the highest monthly total since the Red Sea crisis began following the outbreak of the war in Gaza.

“The Sharm El-Sheikh Peace Summit had a positive impact on calming the situation in the region and the return of many ships to cross the Suez Canal again,” the Egyptian Cabinet Presidency noted on social media.

Rabiee attributed the recovery to renewed confidence among shipping companies after the Sharm el-Sheikh Peace Summit in mid-October, where a US-brokered Gaza ceasefire was signed. The summit brought together leaders including US President Donald Trump, Egyptian President Abdel Fattah el-Sisi, Turkish President Recep Tayyip Erdogan, and Qatari Emir Sheikh Tamim bin Hamad Al Thani.

He also praised French shipping giant CMA CGM for resuming canal operations with two ultra-large container vessels, each carrying over 170,000 tons of cargo, and encouraged other international operators to conduct trial voyages.

The uptick in canal traffic follows President Sisi’s warning that the Suez Canal suffered an estimated $9 billion in losses over the past two years due to Red Sea instability, with monthly losses reaching around $800 million earlier this year.

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