Introduction
With the continuation of the war between Israel and the Gaza Strip, the world is facing a new hit as a result of the troubles in navigation in the Red Sea and the Houthis’ increased targeting of ships passing through the Aden and Bab al-Mandab area, which resulted that many companies change the routes of their ships away from the Suez Canal and the Red Sea.
These companies resorted to old navigational methods that require more time and cost to transport shipments to their final destinations, which led to higher insurance costs and air and land freight fees, with increased demand for them as alternatives to maritime transport, turning navigation in the Red Sea into a new crisis added to the crises of the global economy.
**The importance of the Red Sea **
The Red Sea is considered one of the most important navigation routes in the world. It connects three continents: Africa, Asia, and Europe, and the Suez Canal in its north represents a navigational artery of international strategic importance, as it greatly shortens the passage time of ships, and thus reduces fuel and transportation costs.
The Suez Canal is about 193 kilometers long and is of great importance to global oil trade. Approximately 10 percent of total global supplies pass through the canal.
Most of the countries overlooking this sea are Arab countries, namely Egypt, Saudi Arabia, Jordan, Sudan, Yemen, Djibouti, and Somalia, so they constitute the majority of the total coast of the Red Sea.
On the broader side, 12 percent of global maritime trade and 40 percent of the volume of commercial transactions between Asia and Europe pass through the Red Sea, and it is also considered a major crossing point for Gulf oil exports to global markets.
**Available alternatives **
Several major shipping companies decided to change the routes of their ships away from the targeted area and divert them via the Cape of Good Hope route in South Africa, increasing the trip time by a full week because of the additional distance, which in turn will lead to higher shipping costs.
Russia is also promoting the Northern Sea Route as an “alternative” to the Suez Canal, a trade corridor that runs along the Siberian coast.
As for the Iranian alternative, it is the port of Chabahar, which represents a link with India and can provide an alternative to transporting goods to Europe via Iran within 20 days with reduced costs.
Turkey also aspires to complete the Development Road, a transport corridor extending from the Iraqi port of Al-Faw in Basra to the Turkish port of Mersin, and aims to connect the East with the West, to serve as an alternative to the Suez Canal.
But the reality that imposes itself today confirms that the Red Sea is the most effective and safest primary shipping lane.
Global trade remains dependent on its security and the outcome of developments in the Palestinian-Israeli conflict in the coming days.
Conclusion
While alternative routes exist, they all come with significant drawbacks like increased travel time, higher costs, or limited capacity.
This only proves the superiority of the Red Sea due to its Strategic location, Efficiency, and Capacity.
Therefore, stabilizing the Red Sea is essential for the global economy. Resolving regional conflicts and ensuring safe passage is crucial for maintaining efficient and affordable global trade. The economic consequences of prolonged disruption in the Red Sea, particularly for developing countries, could be severe, emphasizing the need for swift and decisive action towards restoring stability.
So ensuring its security should be a top priority for the international community.
