Israel's Eilat Port has seen an 85% drop in activity since the Iran-backed Houthis in Yemen stepped up attacks on shipping in the Red Sea, the port's chief executive said on Thursday.
Sunrise in marine port of Eilat, Red Sea © Mena Today
Israel's Eilat Port has seen an 85% drop in activity since the Iran-backed Houthis in Yemen stepped up attacks on shipping in the Red Sea, the port's chief executive said on Thursday.
The Houthis are playing an escalating role in the conflict in the Middle East, also firing drones and missiles at Israel in a campaign they say aims to support Palestinians in the Gaza war, where Hamas is also backed by Iran.
Eilat, which primarily handles car imports and potash exports coming from the Dead Sea, pales in size compared to Israel's Mediterranean ports in Haifa and Ashdod which handle most of the country's trade.
It was one of the first ports to be affected as shipping firms rerouted vessels to avoid the Red Sea after the Houthis disrupted a key trade route through the Bab al-Mandab strait.
Without Bab al-Mandab "you close the main shipping artery to Eilat Port. And therefore we lost 85% of total activity", CEO Gideon Golber told Reuters.
The United States has since announced a multi-national security initiative to protect the crucial shipping lane.
KKR and I Squared Capital are among global asset managers bidding for a district cooling business owned by Abu Dhabi's Multiply Group, part of a $1.5 trillion empire overseen by one of the UAE's most powerful Sheikhs, three sources said.
Israel has not ruled out an attack on Iran's nuclear facilities in the coming months despite President Donald Trump telling Israeli Prime Minister Benjamin Netanyahu that the U.S. was for now unwilling to support such a move, according to an Israeli official and two other people familiar with the matter.
A recent Maariv poll reveals significant shifts in Israel’s political landscape, suggesting the potential emergence of a center-right or national-liberal coalition.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.