Mega-Container Vessels Return to the Suez Canal Despite Persistent Red Sea Risks

Source: Maritime Executive

Container vessel traffic through the Suez Canal is staging a recovery, even as security risks in the Red Sea have yet to be eliminated. Official data released by the Suez Canal Authority (SCA) reveals that an increasing number of ocean carriers are returning their tonnage to the waterway following an extended period of diversions around the Cape of Good Hope.

During Q3/2026, 166 large and ultra-large container vessels (ULCVs) transited the waterway, compared to just 16 transits recorded during the same period in 2025. According to the SCA, this statistical grouping encompasses vessels with a net tonnage exceeding 130,000 NT alongside ultra-large container units.

Total net tonnage for this vessel category reached 29 million NT in Q3/2026, up sharply from 2.4 million NT year-over-year.

Admiral Ossama Rabiee, Chairman of the SCA, underscored the waterway's pivotal role for liner shipping: "The Suez Canal holds a strategic significance for containerized trade due to the operational savings it achieves and its promotion of the concept of economies of scale."

Rabiee also highlighted the intensifying cost headwinds confronting ocean carriers - including escalating bunker prices - alongside the freight rate burden carried by cargo owners. He emphasized that the Suez routing drastically compresses sailing distances and transit days, thereby boosting fleet operating productivity.

Ocean Carriers Progressively Reinstate Suez Loops

The SCA continues to roll out commercial incentives to win back liner traffic, forecasting that transit volumes will maintain their upward momentum. CMA CGM has been among the frontrunners reinstating vessels on the canal corridor. Maersk, Hapag-Lloyd, MSC, and OOCL are likewise progressively phasing services back through the Suez and Red Sea corridor. COSCO has restored pro-forma schedules for several loops, while the Premier Alliance (comprising ONE, HMM, and Yang Ming) is reportedly preparing to resume regional transits.

On October 13, the SCA recorded transits from two flagship CMA CGM mega-vessels. Among them was the CMA CGM Pantheon, a 24,212-TEU ultra-large container vessel delivered in July with a deadweight of 233,559 DWT. Flying the French flag, the vessel crossed the canal within the northbound convoy on a voyage connecting Tanger Med (Morocco) with Port Klang (Malaysia).

On the same day, the Malta-flagged CMA CGM Monte Cristo transited via the southbound convoy. Featuring a nominal intake of 16,204 TEU and a deadweight of 158,064 DWT, the ship was also en route to Port Klang.

Drewry: The Suez Decision Reaches Far Beyond Voyage Costs

In a market analysis published in early October, Drewry examined the operational catalysts driving carriers back to the Suez corridor despite unresolved maritime security threats. The consultancy noted that the geopolitical risks that originally forced carriers around the Cape of Good Hope have not dissipated. Intermittent Houthi drone and missile strikes and clashes near the Bab al-Mandeb Strait continue to inject volatility into regional shipping corridors.

Drewry argued that direct voyage-cost savings alone may appear marginal on paper. The agency estimated net savings at approximately $43 per nominal slot - roughly $1 million for a full round voyage - a calculation that excludes dynamic war risk insurance premiums.

Drewry observed: "The apparent eagerness of container lines to return to the Suez Canal is difficult to explain if the calculation is reduced to a simple voyage-cost comparison between Suez and the Cape."

Beyond round-voyage bunker and operational savings, Drewry highlighted that carriers are weighing compressed transit times, enhanced voyage frequency, network-wide schedule integrity, and commercial competitive pressures.

The report concluded: "The more convincing explanation for why carriers are so keen to return to Suez is that they are not really making a binary Suez versus Cape voyage decision based on economics alone. They are making a network, capacity and customer-service decision in which the value of time, vessel utilization, and network integrity are all taken into consideration."

Ultimately, the decision to resume Suez sailings extends beyond simple bunker and canal toll calculations. For global container carriers, route deployment is intricately tied to fleet positioning, schedule dependability, and systemic network utilization. Nonetheless, on-the-ground security conditions in the Red Sea remain the decisive factor governing each carrier’s risk appetite and operational deployment.

See more:

• Ship Recycling Activity Drops to More Than 50-Year Low as Global Fleet Faces Rapid Aging
• ClarkSea Index Sets Fifth Consecutive Record as Daily Vessel Earnings Reach $84,951
• International Shipping and Logistics Market Update Week 41/2026 | Phaata
• Ocean Shipping Disruptions and Tariff Uncertainties Drive Incremental Air Freight Demand in Q4
• MSC and ONE to Continue Ipanema Service Under New VSA from April 2027
• COSCO SHIPPING Holdings Expands Asia-Pacific Service Network
• COSCO updates Vietnam-Intra Asia sailing schedules in Oct 2026
• Around 12% of Global Containership Capacity Affected by Port Congestion
• International Shipping and Logistics Market Update Week 40/2026 | Phaata
• CMA CGM Completes $1.4 Billion Acquisition of FedEx Supply Chain
• Legend Cargo Logistics: Eight Years of Building Expertise and Trust on the Vietnam–North America Trade Lane
• COSCO schedules: Vietnam - North America in Oct 2026
• COSCO updates Vietnam-North Europe sailing schedules in Oct 2026
• SITC updates Vietnam-Intra Asia sailing schedules in Oct 2026

Source: Phaata.com (According to Maritime Executive)

► Find Better Freight Rates & Logistics Service Providers!