Commercial vessel volume in the Suez Canal has fallen by 59% when compared to volumes seen before Houthis started attacking commercial ships, based on a recent report.
According to a survey published January 3 by project44, entitled “Houthi Attacks Disrupt Global Supply Chains,” 207 ships that were originally routed to go through the Suez Canal have been impacted by Houthi attacks.
An estimated 181 vessels have been rerouted around Africa, while another 26 ships are opting to drift, which means they are staying stationary and attempting to wait out the ongoing Middle East conflict. Project44 predicts that most of the rerouted ships will see their transit times increase by seven to 20 days.
Project44 also said it expects the Houthi attacks to lead to more global oil supply disruptions as well as downstream global inventory issues that will likely pop up in February.
“As ocean carriers announce plans to reroute vessels around the canals, trade lanes that leverage the Suez Canal should be prepared for major delays,” reads the project44 report.
