The Suez Canal is open again: the weird reason the global shipping industry doesn't want to use it.

Houthi rebels have announced they will no longer attack shipping transiting the Red Sea and Suez Canal, though they are monitoring the situation in Gaza closely.

Global shippers can again pass through the Suez Canal, saving thousands of miles and up to two weeks of sailing time.

But the industry is in no rush to go back to the shorter routing. Doing so would be the equivalent of adding another 10% to global container capacity, or two million TEU's.

In 2024, ocean shippers boomed, earning record revenues and profits. But this year freight rates have collapsed, and are forecast to fall further next year. Industry-wide use of the Suez will squeeze margins even more.

Closing scene, Dongting Lake Bridge, Yueyang, Hunan

Resources and links:

Freightwaves, Houthi Red Sea stand down: ‘Seismic’ impact on shipping
https://www.freightwaves.com/news/houthi-red-sea-stand-down-seismic-impact-on-shipping

NBC, Yemen's Houthi rebels signal that they've stopped attacks on Israel and Red Sea shipping
https://www.nbcnews.com/world/middle-east/yemens-houthi-rebels-signal-stopped-attacks-israel-red-sea-shipping-rcna243165

Reuters, Hapag-Lloyd pledges to address costs as nine-month profit drops 50%
https://www.reuters.com/business/hapag-lloyd-halves-net-profit-first-nine-months-lowers-ebits-top-end-2025-11-13/

Reuters, Hapag-Lloyd CEO says return to Suez route not yet in sight but looking closely
https://www.reuters.com/world/middle-east/hapag-lloyd-ceo-says-return-suez-route-not-yet-sight-looking-closely-2025-11-13

Houthi Halted Red Sea Attacks But Carriers Not Ready to Return Shipping to Suez Canal
https://www.universalcargo.com/houthi-halted-red-sea-attacks-but-carriers-not-ready-to-return-shipping-to-suez-canal/

Second US Navy jet is lost at sea from Truman aircraft carrier
https://edition.cnn.com/2025/05/06/politics/second-us-navy-jet-is-lost-at-sea

U.S. Navy lost a $67 million fighter jet at sea after it fell off an aircraft carrier
https://www.nbcnews.com/news/us-news/us-navy-lost-67-million-fighter-jet-sea-fell-aircraft-carrier-rcna203444

In 15 months, the Navy fired more air defense missiles than it did in the last 30 year
https://taskandpurpose.com/news/navy-missiles-red-sea/

US missile depletion from Houthi, Israel conflicts may shock you
https://responsiblestatecraft.org/missile-depletion-us-navy/

Search for survivors after Houthis sink second Red Sea cargo ship in a week
https://www.bbc.com/news/articles/c3071vp2d8yo

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