(2024. 2. 29.) Red Sea crisis affects African ports

Red Sea crisis affects African ports

 

Yemen-based Houthi militias began launching missiles and drones at targets in Israel in mid-October, but quickly changed their strategy to attack commercial shipping off the waters of Yemen—specifically the Gulf of Aden, the Bab al Mandab Strait and the Red Sea. By the end of February the Houthis had attacked around 50 commercial vessels and a handful of military vessels stationed in the region.

Impacts of Red Sea Crisis:

·         The canal typically handles over 95% of ships travelling between Asia and Europe, facilitates about 30% of global container traffic and contributes to the movement of about 12% of global goods trade.

·         According to the UN Conference on Trade and Development (UNCTAD), monthly transits through the Suez Canal were down by 37% year on year in January 2024, and the Suez Canal Authority has indicated that revenue is likely to have fallen by about 40% year on year in the same month.

 

Reference

Economist Intelligence, 2024. 2. 29., "Red Sea crisis affects African ports", https://www.eiu.com/n/red-sea-crisis-affects-african-ports/