Drewry: East Mediterranean hubs suffer as Red Sea crisis persists

Average weekly vessel capacity has dropped significantly across East and Central Mediterranean hub ports as carriers continue to divert vessels via the Cape of Good Hope, according to Drewry.

East and Central Med hubs have seen steep reductions in average weekly vessel capacity during Q1 2024, ranging from an 18% decline at Gioia Tauro to a 31% drop at Piraeus.

In January 2024, volumes at Piraeus Container Terminal were down 13% year-on-year while traffic at Suez Canal Container Terminal fell 3%.