Record Low Suez Transits

New stage of Houthi attacks send Red Sea and Suez transits to lowest monthly total in at least five years of ship-tracking data.

October 03, 2024 • Est. Reading Time: 2 minutes

Mobius Intel Brief:

Monthly vessel transits through the Suez Canal and Bab al-Mandeb Strait sank to their lowest level in at least five years of data in September, a consequence of Q3’s increasingly effective Houthi drone/missile attacks on non-Russian and non-Chinese vessels transiting the region.

  • Key Intel: Escalating Mideast conflict increases regional maritime traffic risks, adding incremental costs from war risk insurance and amplifying the effects of the ILA strike that kicked off on Tuesday. Egypt’s souring Suez toll revenue amidst flaring tensions on all borders elevates odds of long-term supply chain instability through the region.

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