CMA CGM Osiris was the first larger containership to transit the Suez since March 2024 (SCA)
The Suez Canal Authority is highlighting the transit of the CMA CGM Osiris (15,536 TEU) through the Suez Canal on June 18 as the first large containerships through the canal in more than a year. The authority is calling it a new phase in its efforts to restore mega containership traffic through the canal.
The vessel which is 156,000 dwt and 366 meters (1,200 feet) in length was reported to be the largest to transit the Suez Canal since March 2024. It is traveling from Singapore bound for Europe and followed two smaller CMA CGM containership which made the transit the day before. The CMA CGM Aquila and CMA CGM Callisto (each 11,400 TEU) made the transit on Tuesday bound for Jeddah.
CMA CGM has quietly maintained a limited number of transits in the Suez Canal for some of its Middle Eastern routes. It has been spotted transiting the Red Sea with escorts from the EU’s Aspidies operation, although the company said it was challenging and required coordination with the navies.
Admiral Ossama Rabiee, Chairman of the Suez Canal Authority said that CMA CGM currently “tops the list” for the number of vessels and tonnage transiting the Canal during the first half of 2025. 
CMA CGM plans to increase its transits of the Suez Canal (SCA)
The authority is working to bring back more traffic to the Suez Canal. In May, it launched a 15 percent discount on fees for containerships over 130,000 net tons transiting either laden or in ballast. The promotion is scheduled to last 90 days and follows a marketing meeting with the major shipping companies and their representatives held in May.
The move comes as most major shipping carriers remain skeptical of a quick return to the Suez Canal. The sentiment this week during the presentations at Marine Money Week in New York is that the risk is high. Several shipowners said insurance premiums remain higher for the Red Sea versus transits of the Straits of Hormuz even with this week’s escalation between Israel and Iran.
Security consultants Ambrey also reiterated this week the increased danger for shipping in the Red Sea. It notes that the Houthis have continued to threaten attacks on any ship associated with Israel and also stepped up in May calling for a blockade of the Port of Haifa. While there have not been any recent attacks targeting merchant ships, the Houthis previously targeted ships with questionable associations with Israel.
The Suez Canal, however, is a critical source of income for Egypt. In March, Egyptian President Abdel Fattah Al-Sisi estimated the monthly loss in revenue at around $800 million due to the 60 percent decline in traffic through the canal. For all of 2024, Egypt reported the disruption in Suez Canal transits represented a decline of $7 billion in revenue.
