Container shipping through the Suez Canal has been severely impacted since late 2023 due to security concerns in the Red Sea related to Houthi attacks, with major carriers rerouting around the Cape of Good Hope. Prior to these concerns, the Suez Canal Authority (SCA) reported 5,847 container ship transits of the canal for the full year of 2023, for an average of about 1,461 container ship transits per quarter. Following the Houthi attacks, the number of container ships transiting the canal has dropped significantly, with a reported average of around 437 container ship transits of the canal per quarter in 2024. This market will resolve to "Yes" if there are 1000 or more container ship transits of the Suez Canal during the first quarter of 2026. Otherwise, this market will resolve to “No”. The primary source of resolution for this market will be the Suez Canal Authority (SCA), specifically the number of “Container Ships” reported in the SCA “Quarter Number & Net Ton by Ship Type” report for Q1 2026 (https://www.suezcanal.gov.eg/English/Navigation/Pages/NavigationStatistics.aspx). If this resolution source becomes unavailable, another SCA resolution source may be chosen. If the SCA does not publish specific data on the number of container ship transits of the Suez Canal for the first quarter of 2026 by June 1, 2026, 11:59 PM ET, credible third-party maritime data providers (e.g., IMF PortWatch, Clarkson Research, or Lloyd's List), citing SCA figures or satellite tracking data, will be used to determine the count, with the relevant time period being January 1, 2026 through March 31, 2026.
Sure, they'll hit 1K. That's basically the minimum traffic flow for the canal to keep operating. But don't mistake that for 'recovery.' It's still going to be a fraction of normal.
Hows that lookin clapham