Eilat Port declares bankruptcy due to Houthi naval blockade

The “Israeli” port of Eilat officially declared bankruptcy due to a significant drop in commercial activities and revenues, largely attributed to the naval blockade imposed by Yemen’s Houthis on “Israeli”-linked cargo ships since last November, Middle East Monitor reported.

Gideon Golber, CEO of Eilat Port, stated, "It must be acknowledged that the port is in a state of bankruptcy." 

He highlighted the severity of the crisis, noting that only one ship has docked at the port in recent months. "The Yemenis have effectively shut off access to the port," he added.

Golber revealed that operations at the port have plummeted by 85 percent since the Houthis began targeting “Israeli”-linked vessels. He warned that if the situation does not improve, temporary layoffs may be necessary.

In response, the port of Eilat reached out to the “Israeli” government for financial assistance. 

The crisis at Eilat Port comes as other “Israeli” ports brace for potential military escalation from the north, particularly from Hezbollah, according to the Jerusalem Post. 

Ports in Ashdod and Haifa are preparing for possible threats, as they fall within the range of Hezbollah's missiles.

Shaul Schneider, Chairman of Ashdod Port, cautioned that if aggression erupts on the northern front, all “Israeli” ports could become inoperative except for Ashdod. 

He stressed the importance of Ashdod as the only government port, explaining that “Israel” relies heavily on maritime shipping, with 99 percent of goods arriving by sea.

Ashdod Port handles approximately 40 percent of “Israel's” maritime goods and has recently supported both “Israeli” and American military operations.