Suez Canal Sees Significant Decrease In Shipping Traffic

53

The Suez Canal has seen a significant decrease in shipping traffic, Dryad Global noted in its latest Maritime Security Threat Advisory (MSTA).

MSTA

According to the MSTA, which was released this week, this traffic more than halved between mid-December and April 1 and this decline “has resulted in a significant revenue loss for Egypt, totaling $1.2 billion by late March 2024”.

Leading ocean freight rate 

In a release sent to Rigzone last month, Xeneta, which describes itself as the leading ocean freight rate benchmarking and intelligence platform, outlined that conflict in the Red Sea region escalated in December and “has seen most ocean freight container services avoid the Suez Canal due to the threat of attack by Houthi militia”.

In its latest MSTA, Dryad also highlighted that EU Naval Force Operation ATALANTA has advised commercial shipping to sail at least 150 nautical miles east of the current traffic route to avoid attacks from Unmanned Aerial Vehicles (UAV).

Bulletin Warning

A bulletin posted the Maritime Security Center – Horn of Africa website last week stated that “ships sailing off the Indian Ocean are recommended to maintain a heightened state of vigilance in light of the recent escalation of Houthi attacks using drones in the Indian Ocean”.

“Since the end of November 2023, multiple incidents involving drone and missile attacks have taken place in the South red Sea, Gulf of Aden, and lately in the Indian Ocean,” the bulletin warned.

“In light of this attack, assessed UAV range and last public statements, it is suggested to establish an alternative sea route no less than 150 nautical miles east of the current traffic routes. Additionally, it is recommended to implement random alterations in course and speed during NAVTRACKS, along with adopting a more restrictive AIS policy to minimize positional exposure,” it went on to state.

Did you Subscribe to our daily newsletter?

It’s Free! Click here to Subscribe

Source: Rigzone

LEAVE A REPLY

This site uses Akismet to reduce spam. Learn how your comment data is processed.