Shipping through the Suez Canal has fallen by two thirds since the start of 2022, driven largely by the ongoing Red Sea crisis.
The Office for National Statistics (ONS) released data showing that ship crossings through the canal and Bab-Al Mandab Strait had plummeted significantly since January 2022, with drops of 66% and 59% respectively.
The ONS said that these numbers “align with the widely reported maritime disruption in the Middle East.”
Higher than indicated
The decline occurred in both tanker and cargo ships.
The drop may be even larger than headline figures indicated, as the ONS notes that in the first week of April this year, the volume of cargo and tanker ships through the Suez Canal was 71% and 61% below the level of ship crossings seen at the same point in 2023.
Cape of Good Hope
By comparison, the Cape of Good Hope experienced a significant increase in usage over the same time period. The West African route is often cited by shippers as the most viable option, with many company updates indicating that most vessels have been re-routed via this lane.
The flow of ships moving via the Cape of Good Hope has steadily increased since December 2023 – corresponding with when most major shipping companies withdrew from the Suez – and remains high compared to last year’s numbers.
The research was done by using data from ships’ automatic identification systems (AIS), which are transmitted every few seconds and can be used to track vessels’ journey.
Houthi attacks
The Suez Canal is one of the most important maritime canals in the world. Since the start of the Israeli-Hamas war in October 2023, Houthi rebels have been attacking vessels travelling through the Red Sea.
The rebels’ attacks have resulted in significant disruption after major shipping companies announced they would not be using the trade route. At least three sailors have died and there have been several reported hijackings.
While no new successful attacks have been reported since the attack on the Hope Island in early April, Houthi commanders have promised to “escalate their operations”.
Western measures, such as Operation Prosperity Guardian or the European Operation Aspides, are ongoing.
US Central Command’s latest update states that an attack against the US-flagged Yorktown was thwarted by coalition forces, with no reported casualties or damage to any commercial vessels.
