Terminal Handling Charges at Port of Aqaba declines by 14%

Economy

Published: 2023-12-10 14:21

Last Updated: 2024-02-25 07:44


Terminal Handling Charges at Port of Aqaba declines by 14%
Terminal Handling Charges at Port of Aqaba declines by 14%

The Terminal Handling Charges (THC) in the ports of Aqaba declined by 16 percent last month, along with a 14 percent decrease in the number of ships arriving at the port of Aqaba during the same period.

The number of car carrier ships also declined by 33 percent due to the increased insurance rates imposed by the escalating situation in the Bab el-Mandeb strait and the threat from the Houthis in Yemen.

The number of passengers arriving from the port of Aqaba to the Egyptian port of Nuweiba also decreased by 31 percent, while ships departing to Aqaba through the Aqaba-Nuweiba port increased by 7 percent.

Maritime transport expert and lawyer, Dr. Atef Al-Muayyad, stated that maritime piracy in the Bab el-Mandeb and the Tiran Straits off the coast of Yemen has raised insurance rates on ships to “alarming levels.”

He affirmed that maritime transport has faced several setbacks over the past three years, starting with the COVID-19 pandemic, which led to an 800 percent increase in container shipping prices. Subsequently, the Russian-Ukrainian war and the regional situation in the Middle East, along with the Israeli Occupation's aggression against Gaza and the Houthi threats, have collectively impacted maritime navigation in the Red Sea.

Al-Muayyad added that maritime navigation in the Red Sea is unsafe due to piracy, posing a significant danger to ships coming from the Bab el-Mandeb strait to the ports of the Red Sea, especially when crossing the Suez Canal. He noted that there is congestion of ships in front of the Bab el-Mandeb, imposing serious repercussions on the economies of countries and leading to consumer price increases for select goods.