The Center for Strategic and International Studies published on 22 January 2024 a study titled "The Global Economic Consequences of the Attacks on Red Sea Shipping Lanes" by Thibault Denamiel, Matthew Schleich, William Alan Reinsch, and Will Todman.
Ship traffic through the Bab el-Mandeb choke point at the southern end of the Red Sea has dropped 46 percent compared to the same period in 2023. Cape of Good Hope passages around Africa are up 70 percent. Suez Canal revenues are down 40 percent. Global shipping costs are rising, and Egypt is experiencing significant losses.
