The Suez Canal, one of the world’s most important trade routes, is facing a growing security threat from Yemen’s Houthi rebels, who have stepped up their attacks on vessels in the Red Sea in recent weeks.
The canal, which connects the Mediterranean Sea with the Indian Ocean, is a vital lifeline for the global economy, carrying about 10% of the world’s trade, including oil, gas, grain, and consumer goods.
Egypt’s Suez Canal Authority (SCA) said on Sunday it was closely monitoring the impact of the tensions in the Red Sea, after two major shipping companies, MSC and Maersk, announced they would avoid the canal as a precautionary measure.
The SCA said that maritime traffic in the canal was normal and that it had deployed additional security measures to protect the waterway and the ships passing through it.
The SCA also said that since Nov. 19, 55 ships had rerouted via the Cape of Good Hope, while 2,128 had crossed the canal in the same period.
The Houthi rebels, who control most of northern Yemen and are backed by Iran, have launched several attacks against vessels in the region, using drones, missiles, and helicopters.
They have said they are targeting Israeli-linked ships in protest against Israel’s bombardment and invasion of Gaza, which has killed almost 19,000 Palestinians, according to Gaza health officials.
However, some of the ships attacked have no apparent connection to Israel, raising fears that the Houthis are indiscriminately targeting any vessel in the area.
The attacks have also increased the risk of environmental damage, as some of the ships carry hazardous cargo, such as oil and chemicals.
The international community has condemned the Houthi attacks and called for an end to the violence in Yemen, which has been mired in a civil war since 2014.
The UN Security Council said on Monday that the attacks posed a serious threat to regional and international peace and security and violated international law.
The US, the UK, and France have also expressed their concern and urged the Houthis to stop the attacks and engage in a political dialogue to end the conflict.
The Suez Canal is not only a strategic asset for Egypt, but also a source of national pride and revenue.
The canal was inaugurated in 1869 and was nationalized by Egypt in 1956, sparking a crisis that led to a brief war with Britain, France, and Israel.
In 2022, Egypt completed a major expansion of the canal, which cost $8 billion and aimed to increase its capacity and competitiveness.
The canal generates about $6 billion a year for Egypt, which relies on it for its foreign currency reserves and economic development.
Egypt has also been developing an economic zone around the canal, which includes industrial and logistics projects, to create jobs and attract investment.
Despite the security challenges, Egypt is determined to maintain the canal’s operation and reputation as a safe and reliable route for global trade.
The SCA’s chairman, Osama Rabie, said in a statement that Egypt was ready to face any threats and that the canal was “a symbol of Egyptian will and a source of national income that will not be affected by any hostile acts”.
Source: Reuters
