The ports of Piraeus in Greece and Port Said in Egypt are the ones facing the biggest impacts of the Red Sea crisis in the Eastern Mediterranean region, according to the findings of a report published by Danish container market specialist SeaIntelligence.
More than half a year after the launch of the attacks in the Red Sea, resulting in the massive rerouting of containerships at the Cape of Good Hope, analysts are assessing the consequences for ports in the area, specifically near the Suez Canal and the Eastern Mediterranean, the Gulf of Aden, but also the Red Sea itself.
As noted, the total number of Eastern Mediterranean arrivals was already on the decline before the crisis, with January recording a monthly drop of 22%. Compared to the average pre-crisis figures, the fall amounts to 33% in 2024.
A similar decrease of 33% is seen in average monthly approaches to the Gulf of Aden, from around 100 to 60-70 approaches this year.
The Red Sea region is facing the biggest problems, with average port calls down 85% this year.
In particular, 40 approaches were recorded in the first half of 2024 compared to more than 200 approaches per month before the crisis. July saw an increase to 60 approaches.
“However, it remains to be seen whether this trend will continue or was just a temporary uptick,” Sea-Intelligence noted.
Ports
Analysts pointed out that the ports most affected by the crisis in the Red Sea were Jeddah and King Abdullah Port.
Liners stopped calling at King Abdullah Port as early as January, while the port of Jeddah recorded a 74% drop in calls from December 2023 to January 2024.
Even after a slight improvement in July, the port is averaging 37 calls per month, compared to 135 before the crisis.
In the Eastern Mediterranean, Piraeus and Port Said are experiencing the greatest impact, which makes sense considering that they are two of the largest hubs in the Mediterranean that are also closer to Suez.
Finally, in the Gulf of Aden, the port of Salalah saw monthly arrivals drop by almost 50% between January and February 2024.
