Recent Bloomberg shipping data reveals a staggering 85% decline in commercial traffic through the Strait compared to last year. With Tehran retaliating via drone and missile strikes across the Gulf, global oil prices have surged past $90 per barrel, marking the largest weekly percentage increase since the 1980s. 2025 Operational ExcellenceDespite global volatility, SUMED reported exceptional operational results for the 2025 fiscal year:Throughput: Transported approximately 50 million tonnes of crude oil (approx. “The current suspension of operations by major global shipping firms in the Red Sea has underscored SUMED’s role as a primary pillar of global energy security,” Al Khanini remarked. Minister Badawi noted that their legislative and technical expertise provides a “valuable addition” to the company’s governance during this period of high-stakes energy diplomacy.

Source: Daily News Egypt March 08, 2026 16:16 UTC