Commercial maritime traffic through the Bab el-Mandeb Strait fell by 88% over the past 24 hours as clashes in Yemen intensified again after July. The decline in the strait, which handles 10% of global maritime trade and 12% of crude oil transportation, has heightened the impact of regional security risks on maritime commerce.
Number of commercial ships passing through falls to four
Data from the International Monetary Fund's PortWatch show that an average of 33 ships normally transit the Bab el-Mandeb each day. However, only four commercial ships were able to use the strait over the past 24 hours.
Traffic by tankers carrying oil and chemical products fell by 91% to one ship, while container ship traffic was 86% below average. The limited number of ships able to pass through the high-risk area flew the flags of Panama, Singapore, Liberia and Ethiopia.
Shift in control along Yemen's coast increases risk
The Ansar Allah Movement, also known as the Houthis, advanced toward western Taiz after securing control of the entire Hudaydah governorate. The movement also took control of the city of Mokha on the Red Sea coast, the routes leading to the Bab el-Mandeb, the Hanish Islands, Mayyun Island and Zubab.
A shift in control of Mayyun Island, located at the entrance to the western channel used by commercial ships to maintain a safe navigation distance, increased security risks around the strait. As a result, ship traffic on the strategic waterway has come to a near standstill.
Shipping is shifting toward the Cape of Good Hope
The Bab el-Mandeb remains a critical passage for goods transported from Asia to Europe via the Suez Canal, as well as for oil and commodities shipped to Asia. However, as safe navigation conditions have deteriorated, global shipping and energy companies have continued diverting their routes around the Cape of Good Hope at the southern tip of Africa because of the military tensions.
The route around Africa extends voyage times by weeks. The change increases freight and insurance costs and could trigger a new rise in global oil prices if pressure on the Bab el-Mandeb continues.
Saudi Arabia's energy route also under pressure
Saudi Arabia can bypass the Strait of Hormuz by transporting its crude oil to Red Sea ports through the East-West Pipeline. However, oil tankers loaded at these ports and traveling south must pass through the Bab el-Mandeb Strait to reach global markets.
The congestion in the strait also threatens the outlet of this strategic energy route, which bypasses the Strait of Hormuz. The passage problem at the Bab el-Mandeb has added to the pressure on global trade and energy supplies caused by the blockade of the Strait of Hormuz.
