YAF operations forced 80% plunge in Eilat port revenues in 2024
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Eilat Port revenues plunged by 80% in 2024 as the Red Sea blockade by the Yemeni Armed Forces continues in support of Gaza.
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Eilat port as seen from the sea, occupied Palestine, March 12, 2009 (Wikimedia Commons)
Revenues at Eilat Port collapsed by 80% in 2024 after ships stopped docking there due to Yemen’s blockade on Red Sea maritime traffic, enforced in support of Gaza, according to a report in the Israeli newspaper The Marker.
The Israeli government will vote next Sunday on a proposed conditional compensation plan tied to the payment of a 3.2 million shekel debt owed by the port's owners.
The proposed compensation plan highlights the severe damage inflicted on the port due to the blockade enforced by the Yemeni Armed Forces, which has forced ships to avoid the Red Sea and instead take the longer route around the African continent to reach "Israel’s" Mediterranean ports of Isdud and Haifa.
Since the beginning of 2025 through mid-May, only six ships have docked at the port, with the halt in activity forcing 21 employees into unpaid leave, while just 16 ships called the port throughout last year, a stark contrast to the 134 ships that docked there in 2023.
In 2023, the port generated revenues of 212 million shekels (about $57 million), but by 2024, earnings plummeted by roughly 80% to just 42 million shekels ($11 million).
Ansar Allah enforce blockades on 'Israel'
On March 11, the Yemeni Armed Forces declared they were reinstating their maritime blockade against all Israeli vessels across key regional waterways, including the Red Sea, the Arabian Sea, the Bab al-Mandab Strait, and the Gulf of Aden.
Sanaa’s move follows the passing of a deadline set by Ansar Allah leader Abdul-Malik al-Houthi, who had demanded mediators pressure "Israel" to reopen Gaza’s border crossings and permit humanitarian aid into the blockaded enclave.
The Yemeni Armed Forces announced the immediate implementation of their blockade, emphasizing that any Israeli ship violating these restrictions would face targeting within their defined operational areas, through a statement published on March 11.
Not just naval, aerial too
The Yemeni Armed Forces announced that they will impose an air blockade on "Israel", in a statement published on May 4, marking their latest escalation of operations against the Israeli occupation in support of Gaza.
The statement warned all international airlines to take this threat seriously from the moment of its issuance and cancel all flights to Israeli airports to preserve the safety of their aircraft and passengers.
For instance, Air Canada announced yesterday that the suspension of flights to "Israel" is being extended until September 8 and will not be resumed on June 8 as previously expected.
Polish airline LOT, Germany’s Lufthansa, France’s Air France, Italy’s ITA, as well as the American airlines Delta and United, and Britain’s British Airways, have all suspended flights to and from "Israel" for varying periods, some extending until mid-June.
