Three months after the onset of the barbaric Israeli aggression against Gaza—a response to "Al-Aqsa Flood" operation, which many human rights activists have refused to consider as legitimate self-defense due to Israel being a foreign occupying entity—it was logical for some Arab forces to mobilize in retaliation.
Among those forces was the Ansar Allah Houthi group, which has controlled the situation in Yemen since 2015. They targeted Israeli interests in the Bab al-Mandab Strait, the Gulf of Aden, and the Arabian Sea, preventing Israeli or Israel-bound ships from passing through the Red Sea to the occupied Palestinian ports in "Umm al-Rashrash" (Eilat) on the Gulf of Aqaba, or "Ashdod" and "Haifa" on the Mediterranean coast. In addition to directing their missiles and drones to strike the Zionist entity, they announced their intention to continue doing so until Israel lifts the blockade on Gaza and permits the entry of humanitarian aid.
Egypt's anxiety increased when American propaganda, from the nation that is the largest supporter of the Zionist entity, began to promote fears that the Iran-backed Houthi group planned to close the entire Red Sea. But, as in every war, there are unintended casualties, and many feared that the Suez Canal would be a victim of such a move, as it's a primary source of income for Egypt and a vital global trade artery, capturing about 12% of international trade by providing a safer passage for ships and reducing voyage time by 17 to 22 days compared to rounding the Cape of Good Hope, thus being more economically efficient in saving time and money and facilitating the flow of investment.
Egypt has always been sensitive about the Suez Canal, tied to its struggle against colonization for national liberation, and as it's one of the top three sources of foreign revenue for the country, garnering $8.8 billion last year.
Hence, the eyes of decision-makers and economists quickly turn to the canal with every military confrontation in the region or when news of competing corridor projects circulate, like the G20 summit in India (September 9-10, 2023), which announced an economic corridor project, or the Chinese "Belt and Road" initiative, aiming to provide a land belt of railways and roads to deliver goods from China to Europe.
Egypt's worries were compounded as American authorities launched an operation ostensibly to protect navigation in the Red Sea, the Gulf of Aden, and the Arabian Sea but also to provide logistical support to the Zionist state, mobilizing ten countries for this operation dubbed "Prosperity Guardian," including the UK, Bahrain, Canada, France, Italy, the Netherlands, Norway, Seychelles, and Spain.
As expected, many companies hesitated to pass through the Red Sea in response to rising tensions, opting instead for the longer route around the Cape of Good Hope.
The sole objective of the "Prosperity Guardian" alliance was to prevent the Houthi group from threatening Israeli maritime trade, as any Israeli or Israel-bound ship passing through the area adjacent to the Yemeni coast is at risk, a fact well known to shipping companies. Thus, companies like Taiwan's "Evergreen" announced they would no longer carry Israeli goods in the region.
Other companies, including Japan’s "Nippon Yusen," Belgium's "Euronav," Taiwan's "Yang Ming," Germany's "Hapag-Lloyd," South Korea's "HMM," and Singapore's "Orient Overseas Container Line," also initially announced boycotting passage through the Red Sea and the Suez Canal but some, like France's "CMA CGM," Taiwan's "Evergreen," and Denmark's "Maersk," later resumed trips through the Red Sea after tensions eased.
The Houthi group has repeatedly stated that they do not intend to disrupt navigation in the Red Sea—a stance that Iran, known for calibrated escalation, has also supported emphasizing the importance of maintaining freedom of navigation in the Red Sea for other ships. These positions seemed to emerge following Egyptian communications with both parties.
Therefore, there is no ground for further anxiety regarding the navigation in the Suez Canal; the Houthi message is directed solely at the Zionist entity and has already had a significant impact, which will continue regardless of the duration of "Prosperity Guardian." The West, based on previous experiences, comprehends that the Houthi group has nothing to lose when met with armed force.
Israel remains the most commercially disoriented, its Eilat port has seen a decline in activity, the cost to ship Israeli goods has doubled due to increased risks, and their voyages find no alternative but the longer route around the Cape of Good Hope.
However, Egypt remained largely unaffected. Osama Rabie, the head of the Suez Canal Authority, announced that the number of ships that refrained from passing through the canal between November 19 and December 17, 2023, did not exceed 55, a negligible figure compared to the thousands that cross monthly.
