Maritime traffic in the Red Sea fell 22% in one month due to attacks by Yemen's Houthi rebels, which could impact prices, European Trade Commissioner Valdis Dombrovskis declared on Tuesday.
(Also: Houthis confirm 18 attacks from the United States and the United Kingdom last night: they promise 'punishment')
“Marine traffic fell by 22% in one month,” Dombrovskis declared at a press conference after an informal meeting of European ministers responsible for international trade.
(In context: 8 questions to understand the crisis in the Red Sea: how serious is what is happening?)
This drop will probably be greater later due to the decision of many shipowners to avoid that sea route.he added.
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The Red Sea, which provides access to the Suez Canal, is crucial for international trade. “Between 12% and 15% of global traffic passes through this sea route, as do between 30% and 35% of container ships,” stressed the European Commissioner.
About 20,000 ships pass through the Suez Canal every yeargateway to and exit from the Mediterranean for ships traveling between Asia and Europe.
According to the commissioner, the attacks by the Houthi rebels have not yet had an impact on the price of goods, despite the fact that the price of transport has increased.
“The economic impact on consumer prices will depend on how long this crisis lasts,” he noted.
(You can read: Why do attacks in Yemen increase the risk of the Gaza conflict spreading?)
The economic impact on consumer prices will depend on how long this crisis lasts.
In recent weeks, the Houthi rebels, allies of Iran – a regional power and rival of Israel – have intensified their attacks near the Bab al Mandeb Strait, which separates the Arabian Peninsula from Africa, in “solidarity” with the Palestinians in Gaza.
These attacks led the United States to create a multinational maritime protection force in the Red Sea, named Prosperity Guardian.
The Europeans are studying the creation of a mission to protect merchant ships in this area.
(Also: Who are Yemen's Houthi rebels and why did the US and UK attack them?)
EU foreign ministers discussed the issue at a meeting in Brussels on Monday and a decision could be announced before their next meeting on February 19.
The attacks have world powers on alert, especially the United States, Israel's main ally, but they are More than 50 nations have been directly affected by traffic disruptions in the Red Sea.
About 12% of global maritime trade passes in normal times through the Bab al Mandeb Strait, which controls access to the southern Red Sea. However, since mid-November, the number of containers has fallen by 70%, according to industry experts.
(Also: Tension in the Red Sea: missile hits US cargo ship off the coast of Yemen)
Many shipowners have preferred interrupt its activity in this area and opt for an alternative itinerary that passes through the South African Cape of Good Hope, much longer and therefore expensive.
In addition, another region is being affected, in this case by a climatic factor. The drought hitting the Panama Canal has considerably slowed ship traffic between Asia and the United States.
If in normal times about forty ships pass through the Canal every day, the number has been reduced to 24 these days.
AFP
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