Daijiworld Media Network - Jerusalem

Jerusalem, Jan 13: Israel’s southern Eilat port on the Red Sea is facing a “historic crisis”, with its revenue plunging to almost zero due to sustained attacks by Yemen’s Houthi group over the past two years, an Israeli newspaper has reported.

According to a report in Yedioth Ahronoth, the strategically important port has been left virtually paralysed amid repeated missile and drone attacks by the Houthis, as well as assaults on Israeli-linked ships in the Red Sea during the ongoing war on Gaza. The Houthi group has also imposed a ban on maritime navigation for commercial vessels connected to Israel.

The newspaper said that for more than two years, disruptions to Red Sea shipping routes, vessel attacks and broader geopolitical tensions have brought port operations to a standstill. Workers reportedly arrive at the docks daily, but no ships dock at the port.

The report said Eilat port’s annual revenue, which once stood at around 240 million shekels (approximately $76 million), has now dropped to nearly zero. Government assistance provided to revive operations amounted to only 15 million shekels (around $5 million).

It further noted that Israel’s Ministries of Finance and Transport have recently announced they would not extend the port’s operating licence, citing failure to meet required conditions. In response, Eilat port authorities are planning legal action and have urged the government to reverse its decision.

The crisis at Eilat port highlights the wider economic and strategic impact of the Red Sea disruptions triggered by the regional conflict, the report said.