Categories: Global

Red Sea Transits of Tankers, Bulkers & Gas Carriers Plunge

This handout satellite picture released by Maxar Technologies on November 28, 2023, shows the recently seized Isreali-linked Galaxy Leader ship (C), that was captured by Huthi fighters on November 19, next to a support vessel in the southern Red Sea near Hodeida, Yemen. - Israeli ships are a "legitimate target", Yemen's Huthi rebels warned, after their seizure of the Israel-linked cargo vessel opened a new dimension in the Gaza war. The capture of the Galaxy Leader and its 25 international crew came days after the Iran-backed Huthis threatened to target Israeli shipping over the Israel-Hamas war. (Photo by Satellite image ©2023 Maxar Technologies / AFP) / RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO / SATELLITE IMAGE ©2023 MAXAR TECHNOLOGIES" - NO MARKETING NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS - THE WATERMARK MAY NOT BE REMOVED/CROPPED - - RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO / Satellite image ©2023 Maxar Technologies" - NO MARKETING NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS - THE WATERMARK MAY NOT BE REMOVED/CROPPED - /

Courtesy: Sal Mercogliano & Kpler

ARABIAN PENINSULA: In a notable downturn that has sent ripples through maritime industries, the Red Sea transits of tankers, bulkers, and gas carriers have witnessed a significant plunge, according to a recent report by Kpler. The report sheds light on disruptions across several sectors, painting a complex picture of challenges faced by vessels navigating this crucial maritime artery. As the global supply chain grapples with mounting uncertainties, the decline in Red Sea transits emerges as a pivotal indicator of the region’s evolving dynamics, impacting the seamless flow of goods and resources.

Kpler’s comprehensive analysis delves into the multifaceted reasons behind the decline, ranging from geopolitical tensions and security concerns to economic factors shaping the maritime landscape. As stakeholders in shipping and trade closely monitor these developments, the report underscores the need for a nuanced understanding of the intricate balance between security and commerce in one of the world’s key waterways. The plunge in Red Sea transits serves as a poignant reminder of the interconnectedness of global trade and the resilience required to navigate the evolving challenges that shape maritime operations in the 21st century.

The Frontier Post