A loss of 27.5 million dollars for Egypt. The Suez Canal Authority recently disclosed that 55 vessels have steered clear of the canal since November, resulting in substantial financial losses amounting to approximately 27.5 million dollars for Egypt.
This avoidance strategy directs ships to take an alternative route through the Cape of Good Hope in South Africa, adding a significant delay of approximately 9 to 14 days to their journey.
Amid this navigational shift, there’s a notable trend emerging in the maritime landscape. While countries in the Persian Gulf are extending support to Israel through the ports of the United Arab Emirates and Bahrain, the blockade of Yemen maintains an exceptionally potent hold.
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The effectiveness of this blockade is evident as numerous ships navigating near Yemen’s coast and the Red Sea have resorted to transmitting signals indicating the presence of armed guards aboard instead of disclosing their intended destinations. This strategic move is an attempt to safeguard their vessels against potential hijacking attempts orchestrated by the Ansarullah movement.
This evolving situation signifies the multifaceted challenges faced by ships traversing these waters, with geopolitical tensions and security concerns significantly impacting maritime routes and operations. The avoidance of the Suez Canal, coupled with the heightened security measures taken by vessels near Yemen’s coast, underscores the complex dynamics and risks inherent in maritime navigation through these regions.
Indeed, a loss of 27.5 million dollars represents a significant setback for Egypt. This financial toll, incurred due to the avoidance of the Suez Canal by numerous vessels since November, underscores the substantial impact on Egypt’s economy. The canal, renowned as a pivotal trade route, plays a crucial role in facilitating global maritime commerce, and any disruption or avoidance translates into substantial financial implications for the nation.
