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Confirmed transits along Russia’s Northern Sea Route have already overtaken last year’s full-season total, as shippers increasingly divert tonnage from the Strait of Hormuz, Suez Canal and Black Sea toward the Arctic corridor.
Vessel traffic through the Strait of Hormuz has dropped to its lowest level in more than two months after tanker attacks in the waterway reached their highest weekly frequency since the start of the Iran war.
Riyadh is preparing a possible coastal assault or wider Yemen military operation to reverse Houthi control of the Bab el-Mandeb strait, a Red Sea chokepoint that has become a critical alternative route as the Strait of Hormuz remains effectively closed.
Major container alliances including Premier Alliance and Cosco are sending vessels back through the Suez Canal on Asia-Europe services this month, ending more than two years of diversions around the Cape of Good Hope.
EU foreign policy chief Kaja Kallas confirmed that merchant vessels are queuing for naval escorts through the southern Red Sea because Operation Aspides lacks enough frigates to meet demand.
Maersk and Hapag-Lloyd will shift four additional Gemini Cooperation container services from the Cape of Good Hope back through the Suez Canal and Red Sea, doubling the number of strings using the corridor to six.
Iran-aligned Houthi forces have captured the strategic Yemeni port city of Mocha and are pushing toward the Hanish Islands, tightening their grip on the Bab el-Mandeb Strait chokepoint used by global shipping.
Drewry’s World Container Index shows spot rates poised for a modest decline as ocean carriers accelerate the return of container capacity to the Suez Canal.
At least six people were killed, including two rescue workers, after suspected Houthi missile strikes hit the Egyptian-owned cargo ship Tihamah near the Bab el-Mandeb strait, with ten more injured.
Houthi forces struck the Saudi tanker Amzan off Yanbu on August 24, the latest strike since the group declared a naval blockade on Saudi shipping in July.
