The number of containers lost surged in 2024 as a result of the conflict in the Red Sea. Disruptions in trade routes increased maritime risks.
Container losses surge after rerouting via the Cape of Good Hope
According to the latest report from the World Shipping Council (WSC), 576 containers were lost at sea in 2024 — a significant increase from the 221 reported the previous year. Despite the rise, the figure remains below the 10-year average of 1,274 containers lost annually.
This increase is directly linked to the changes in maritime routes caused by the Red Sea conflict. More than 90% of container ships avoided the Suez Canal and opted for the longer route around the Cape of Good Hope, resulting in a 191% rise in traffic through that area.
Adverse weather conditions in the region contributed to significant losses. Around 200 containers were lost in the Cape area alone, representing 35% of the year’s total.
Suez Canal crisis: Economic impact and geopolitical tensions
Since September 2023, attacks by the Houthi group — backed by Iran — on commercial and military ships in the Red Sea have triggered a severe crisis. This situation caused Suez Canal revenues to plummet by 61% in 2024, falling from $10.25 billion to just $3.99 billion.
In response, the Suez Canal Authority (SCA) introduced a 15% discount for vessels over 130,000 tons and urged shipping companies to return to the route. SCA Chairman Osama Rabie stated that “the Red Sea is safe now” and reported that 264 vessels have already returned to the Egyptian waterway.
However, the threat remains. In May, the Houthis reaffirmed their intention to target vessels linked to Israel and, more recently, also warned of possible attacks on U.S. ships.
Safety and prevention: New steps from the industry
Despite the challenges, over 250 million containers were transported successfully in 2024. Only 0.0002% were lost, demonstrating the effectiveness of preventive measures.
The WSC announced new actions for 2025 and 2026:
- A global program to detect undeclared dangerous goods
- Mandatory loss reporting to the International Maritime Organization (IMO)
These efforts aim to minimize container losses at sea and improve the safety of global shipping routes.
The rerouting of maritime traffic following the Red Sea crisis led to a rise in container losses in 2024. Although the figures are moderate compared to previous years, the situation highlights the vulnerability of global trade to geopolitical events. With new safety measures in place and signs of recovery at the Suez Canal, the industry is seeking stability.
You may also be interested in: How red sea attacks affect supply chains
Sources
Schuler, M. (2025, 30 junio). Container Losses Rise in 2024 as Red Sea Crisis Forces Riskier Routes. gCaptain. https://gcaptain.com/container-losses-rise-in-2024-as-red-sea-crisis-forces-riskier-routes/
ManchÓN, B., & ManchÓN, B. (2025, 30 junio). El Canal de Suez busca reposicionarse como ruta segura y rentable. Atalayar. https://www.atalayar.com/articulo/politica/canal-suez-busca-reposicionarse-como-ruta-segura-rentable/20250630100000216294.html
