Egypt the ‘big loser’ in Red Sea disruption with transit-fee losses: Analyst
David Des Roches, from the National Defense University in Washington, DC, says a US-led maritime coalition will eventually help stabilise Red Sea shipping despite recent Houthi attacks.
“By having an organised system of naval escorts, commercial carriers will be able to travel the Suez Canal, link up with the coalition, and then sail through the Bab al-Mandeb under international protection,” Des Roches told Al Jazeera.
“I expect it to take some time before a level of confidence is established. Bear in mind, these are unarmed commercial ships that are being attacked with weapons of war in time of peace. That is a war crime. They’re flagged by nations that have no connection with the Gaza conflict at all.
“The big loser here is Egypt. It’s going to lose 30 percent of its hard currency assets from Suez Canal transit fees as long as this is closed,” he noted.
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