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- Red Sea crisis is rerouting cargo ships around Africa
- Number of ships round the Cape is almost double
- South Africa is not benefiting from the surge in traffic
South Africa’s ports are missing out on revenue generated by the increase in commercial ships being rerouted around the southern tip of Africa.
Iran-backed Houthi rebels started targeting ships on the Red Sea in solidarity with Palestinians in November 2023. More than 50 ships were attacked between January and March this year.
As a result, shipping companies are choosing to avoid the Suez Canal. About one-tenth of maritime trade volume usually passes through the Suez Canal, but the ships are now being sent via Africa instead.
The number of ships rounding the Cape of Good Hope has almost doubled to 7,078 so far this year from 3,815 in 2023, according to PortWatch, a project of the IMF and Oxford University.
The number of ships docking at Durban, SA’s busiest port, has not increased, however. This may have to do with the waiting time. In mid-April, ships had to wait 4 days to dock.
— 9 May, 2024Subscribe to the weekly newsletter for more charts like this
