More and more ships are avoiding the Red Sea

The conflict in the Middle East is changing international maritime trade routes. Currently, around 40 container ships sail through the Red Sea every day, according to the Kiel Trade Indicator.

The collapse in shipping traffic in the Red Sea since the attacks by the Houthi rebels has not yet stopped. (Photo: IMAGO / SuperStock)
March 11, 2024 | by Amelie Bauer
The number of container ships passing through the Red Sea and the Suez Canal fell again in February compared to January. At the same time, the number of ships around the Cape of Good Hope off Africa tripled. This is according to the latest update of the Kiel Trade Indicator. The algorithm evaluates global position data of container ships in real time.

However, no negative consequences are expected for the economy as a whole, and specifically for the German economy; both freight rates to Europe and the volume of goods arriving in the North Sea are stabilizing.

Currently, around 40 container ships sail through the Red Sea daily, compared to an average of well over 100 last year. The current shipping volume is close to the low point reached in mid-January, having since recovered to around 50 ships. This means that the collapse in shipping traffic in the Red Sea since the Houthi rebel attacks has apparently not yet stopped.

The consequences for North Sea ports are, however, easing. Initially, the abrupt interruption of the usual sea route through the Suez Canal led to delays for incoming ships, as they had to take an unplanned detour of around two weeks around the Cape of Good Hope off the coast of Africa.

Freight rates for transporting a standard container from China to Northern Europe, which previously usually took place through the Suez Canal, are also stabilizing. They have surpassed their mid-January peak of just under USD 6,000 per standard container. Since then, the spot price has been falling steadily and is currently around USD 4,500.