Egypt’s Suez Canal Authority (SCA) announced Sunday it was closely monitoring the impacts of military tensions in the Red Sea, following major carriers taking alternative routes due to safety concerns.
The SCA Chairman Osama Rabie said in a statement that maritime traffic was normal in the canal connecting the Mediterranean and the Red Seas. He added that the SCA was closely evaluating the impact of certain shipping lines temporarily shifting their routes to the Cape of Good Hope. In recent days, at least four major freight firms said to reduce or suspend passage through the Red Sea due to repeated attacks from Yemen’s Houthi militia on commercial vessels in the area since the outbreak of the Israel-Hamas conflict on Oct. 7. Rabie said only 55 ships have rerouted via the Cape of Good Hope route since Nov. 19, compared with the passage of 2,128 ships through the Suez Canal during the period. He added that 77 ships crossed the Suez Canal on Sunday, including some ships belonging to shipping lines that announced the temporary diversion.
Rabie affirmed that the Suez Canal would remain the fastest and shortest route for vessels transiting between Asia and Europe, as time saved in sailing could range from nine days to two weeks, depending on ports of departure and arrival. As the first shipping line alerted by the attacks, Danish logistics giant Maersk on Friday advised its fleet to halt all voyages through the Bab al-Mandab Strait, a narrow sea passage near Yemen, which holds immense strategic significance, serving as a major artery for global oil shipments and as a crucial gateway to the Suez Canal. Maersk cited alarm over the “deteriorating situation” and “serious risks” to the safety of ships and crew. Its decision will likely impact global supply chains, given that the company owns one of the world’s largest container vessel fleets.
Other shipping leaders, including Switzerland’s MSC, France’s CMA CGM, and Germany’s Hapag-Lloyd, quickly followed suit, expressing similar worries over maritime security in the region.
On Saturday, MSC said its container ship MSC PALATIUM III was attacked at approximately 09:37 a.m. GMT a day earlier while transiting the Red Sea under sub charter to Messina Line, prompting it to pause transit through the Suez Canal until the Red Sea passage is safe. The Yemeni Houthi militia has claimed responsibility for several cross-border missile attacks towards Israel, as well as the hijacking and attacking of Israel-bound commercial ships in the Red Sea since the Gaza conflict. The Suez Canal, which carries 12 percent of global trade, serves as one of Egypt’s main sources of foreign currency.
