Hopes for Suez Canal Revival Dashed by New Middle East Conflict

Shippers are once again avoiding the Suez Canal as the US and Israel are locked in a war with Iran, dashing hopes of an imminent revival for the key global trade conduit that’s a pillar of the Egyptian economy.

A.P. Moller-Maersk A/S, Hapag-Lloyd AG and France’s CMA CGM SA have all said they’re suspending passage or routing services away from Suez, reflecting fears that Iranian-backed Yemeni rebels might resume attacks on vessels in the southern Red Sea.