Cairo – March 17, 2025: Jefferies Investment Bank, a leading authority in shipping data, recently released a report revealing that around 200 commercial voyages now pass through the Red Sea each week, based on tracking data from the Automatic Identification System (AIS).
Although this number has increased, it still remains less than half of the 500 weekly voyages recorded two years ago.
In 2025, 56 percent of dry bulk cargo shipments have been diverted, a rise from 45 percent in 2024. Meanwhile, the rerouting of crude oil tankers has grown from 35 percent to 48 percent, and product tankers have seen an increase from 45 percent to 52 percent.
Data from ABG Sundal Collier shows a sharp 72 percent decrease in the number of arrivals through the Gulf of Aden compared to the 2023 average. This has had a severe economic impact on Egypt, with a significant drop in revenues from the Suez Canal.
The report also notes that more than 100 ships were attacked by Houthi forces since late 2023 and throughout the past year.
However, the Houthis have paused their campaign against commercial shipping in 2025, due to a temporary peace agreement between Israel and Hamas.
In a related development, the US Federal Maritime Commission (FMC) has launched an investigation into global maritime chokepoints, including the Suez Canal, to determine if foreign governments or shipping operators are creating conditions that could negatively affect US shipping and trade.
According to the investigation order, recent events have highlighted transit constraints at key global shipping points, including the English Channel, the Malacca Strait, the Northern Sea Passage, the Singapore Strait, the Panama Canal, the Strait of Gibraltar, and the Suez Canal.
In response to these challenges, the European Union has extended its mandate for its maritime security operation, EUNAVFOR Aspides, for an additional year.
The operation, which aims to safeguard freedom of navigation in the Red Sea, will continue until February 2026, with a budget of over 17 million euros (approximately $17.8 million) allocated for the extension.
In late February, Suez Canal Authority (SCA) Chairman Osama Rabie announced that 47 ships had resumed using the Suez Canal since early February, opting for the canal instead of the longer Cape of Good Hope route.
In 2024, the Suez Canal experienced a significant 60 percent drop in revenues, amounting to a loss of $7 billion, as shipping companies rerouted vessels due to the Houthi attacks on Israel-linked ships in the Red Sea.
This shift disrupted global supply chains, and Rabie emphasized the urgent need for international cooperation to ensure the uninterrupted flow of maritime traffic.
To mitigate the effects of these challenges on the canal, Rabie noted that the SCA had implemented several strategic measures. These included stabilizing transit fees and expanding its maritime and logistical services, efforts aimed at maintaining the canal’s critical role in global trade.
Mon, Mar. 17, 2025
