Houthi attacks slash Eilat port revenue to near zero, Israeli newspaper reports

An Israeli newspaper has revealed a “historic crisis” at Israel’s Eilat port on the Red Sea, saying its revenue has fallen to almost zero due to attacks by Yemen’s Houthi group over the past two years.

Yedioth Ahronoth said Eilat port, long seen as a key strategic asset in southern Israel, is facing the worst crisis in its history because of Houthi attacks.

Over the past two years of Israel’s war on Gaza, the Houthi group has launched hundreds of missiles and drones at Israel. It has also attacked Israeli-linked ships in the Red Sea and imposed a ban on maritime navigation for commercial vessels connected to Israel.

The newspaper said the port is “almost completely paralysed” after more than two years of disruption to Red Sea shipping routes, ship attacks, and wider geopolitical tensions.

It added that port workers arrive every morning at its empty docks, ready to work, but no ships arrive.

According to the report, the port’s annual revenue, which previously stood at about 240 million shekels ($76 million), has dropped to nearly zero. State support provided to help revive the port amounted to 15 million shekels (around $5 million).

The newspaper also reported that the Ministries of Finance and Transport recently announced they would not extend the port’s operating licence because it no longer meets the required conditions.

Eilat port plans to take legal action against the decision and is calling on the government to reverse its position, the report said.