Houthi attacks near the Bab el-Mandeb strait pushed most container lines round the Cape of Good Hope from December 2023, adding about 3,000-3,500 nautical mile…
Houthi fighters landed by helicopter on the car carrier Galaxy Leader. Attacks on ships they linked to Israel followed.
Maersk, Hapag-Lloyd, MSC and CMA CGM paused transits. The US launched Operation Prosperity Guardian on 18 December.
World Bank: about 3,000-3,500 extra nautical miles and 7-10 more days on a typical Asia-Europe trip.
By early February 2024, spot rates from Shanghai were up 122% on early December, and to Europe up 256% (UNCTAD).
The Rubymar became the first ship sunk. Four days later three crew died on the True Confidence.
UNCTAD: Suez transits down 70% by June 2024, Cape arrivals up 89%. Round trip ~$1.7m via Cape vs ~$1m via Suez.
About $6 billion in canal income in 2024. Revenue fell from $9.4bn in FY2022/23 to $7.2bn, then about half.
A 15% discount for big container ships, and a US-Houthi truce on 6 May. Few lines changed course.
No. Two bulk carriers were sunk and Eternity C crew were killed. The truce covered US ships, not everyone.
After a calm from late 2025, carriers tested the route in February. Then the US and Israel struck Iran, and the Houthis threatened ships.
The Houthis threatened ships calling at Saudi ports or carrying Saudi oil. Saudi-bound ships turned back.
The India-flagged Faize Noore Oliya sank off Yemen. All crew, including 13 Indians, were rescued.
Maersk, Hapag-Lloyd, MSC, CMA CGM and COSCO moved services back. About 35% of Asia-Europe sailings use the Red Sea.
Not fully. The Houthis took the strait's Yemeni shore in September and Yemen's government launched a counter-offensive in October.
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