The incident occurred hundreds of miles from the area in the Red Sea and Bab al-Mandab Strait that has been targeted by Iran-backed Houthi militants, and which has forced ship operators to reroute sailings via the Cape of Good Hope to avoid being targeted. The Houthis have extended the campaign of targeting vessels owned by Israel-linked entities to any ship destined for an Israeli port.
In response to attacks, the US has formed a new multi-national task force to try to guarantee one of the world’s most important shipping lanes remains open for commercial navigation.
However, tonnage transiting the chokepoint of Bab al-Mandab has dropped by over a half since the beginning of December, S&P Global Commodity Insights data shows, as increased security risks have prompted all vessel types to divert voyages.
Since Dec. 15, nearly a dozen of the world’s largest container lines and tanker operators, as well as energy majors BP and Equinor, have announced their intention to steer their ships and cargoes away from the Red Sea for safety reasons.
Data from S&P Global Maritime Intelligence Risk Suite shows a total of 50 ships with 2.67 million dwt sailed through the Bab al-Mandab Strait on Dec. 19, down 56% from an average of 6.06 million dwt per day in the first two weeks of December, when around 75 vessels passed through the trade lane daily.
