Geopolitics and Resilience
2026-04-26
11 minute read
13 sources
Yemen, the Houthi blockade, and the Red Sea reroute economics of 2026
Suez revenue fell 63 percent in 2024, container traffic remains 55 percent below the late 2023 peak, and Lloyd's war risk premia stand at ten times pre attack levels. The Saudi roadmap, the Trump strikes, and Gulf restoration paths converge on one chokepoint.
Houthi anti shipping operations, sustained from November 2023 through the first quarter of 2026, have repriced the Bab el Mandeb and Suez transit corridor. Suez Canal Authority revenue fell to USD 880 million in the fourth quarter of 2024, against USD 2.4 billion in the same quarter of 2023, a 63 percent collapse. UKMTO and EU Aspides log...