Jordan, Egypt to activate alternative shipping route amid Red Sea navigation halt
Jordan and Egypt have agreed to operate the Arab Bridge Maritime and Land Transport Line between Aqaba and Egyptian ports on the Mediterranean as an alternative shipping route. This decision comes after several major shipping companies announced the suspension of operations in the Red Sea and Bab al-Mandab, according to the Jordan News Agency.
With the escalating Houthi threats in the southern Red Sea, targeting ships heading to and from Israel to pressure the occupying state to cease the war on the Gaza Strip, several international shipping companies announced, earlier in December, a 200 percent increase in ship insurance costs.
This was followed by another decision to halt the passage of their ships through the Red Sea, in anticipation of such threats, and change their route to the Cape of Good Hope, increasing the navigation period to European countries by 10 to 15 days.
This raises concerns about the increase in commodity prices in the global markets, which have not yet recovered from the repercussions of the Ukraine crisis and the COVID-19 pandemic.