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ENERGY: International Shipping Still Avoiding Red Sea Transit

ENERGY
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There has been no major change in Red Sea transit volumes since the Gaza ceasefire was announced according to Clarkson’s Research vessel tracking.

  • Gross tonnage through the Red Sea remains down by ~70% vs 2023.
  • Further Gaza ceasefire talks have been reported on Friday with the first phase set to end on Saturday. Phase 2 of the ceasefire agreement is intended to include a return of all remaining hostages in Gaza and the withdrawal of all Israeli forces from the territory.
  • As long as the ceasefire remains, the Houthis are expected to allow the passage of non-Israeli linked ships but the lack of uptake indicates the security concerns still felt by international shipping. 

 

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There has been no major change in Red Sea transit volumes since the Gaza ceasefire was announced according to Clarkson’s Research vessel tracking.

  • Gross tonnage through the Red Sea remains down by ~70% vs 2023.
  • Further Gaza ceasefire talks have been reported on Friday with the first phase set to end on Saturday. Phase 2 of the ceasefire agreement is intended to include a return of all remaining hostages in Gaza and the withdrawal of all Israeli forces from the territory.
  • As long as the ceasefire remains, the Houthis are expected to allow the passage of non-Israeli linked ships but the lack of uptake indicates the security concerns still felt by international shipping. 

 

image