TEL AVIV (Agencies): The Israeli port of Eilat has officially declared bankruptcy because of a sharp decline in commercial activities and revenues due to the naval blockade imposed by Yemen’s Houthis on Israeli-linked cargo ships since last November, a senior official has confirmed.
“It must be acknowledged that the port is in a state of bankruptcy,” explained the CEO of Eilat Port, Gideon Golber. “Only one ship has come here in recent months. The Yemenis have effectively shut off access to the port.”
Earlier this month, the port of Eilat called on the government to provide it with financial assistance as it has been inactive since Tel Aviv launched its latest war on Gaza in October last year. In December, Golber said that there had been an 85 per cent decline in operations since the Yemeni Armed Forces initiated attacks on Israeli-linked ships in the Red Sea. He indicated at the time that Eilat Port might need to lay off employees temporarily if the situation persisted.
Meanwhile, the ports of Ashdod and Haifa on the Mediterranean are also preparing for possible “escalation from the North with Hezbollah,” according to the Jerusalem Post. The two ports are well within the range of Hezbollah’s missiles.
The Chairman of Ashdod Port, Shaul Schneider, warned that if the northern front is opened with Hezbollah, all of Israel’s ports will be inoperative except for Ashdod, due to the escalation in the north and the closure of Eilat Port.
In an interview with Israeli newspaper Maariv, Schneider explained that Ashdod is the only government port, noting that Israel is effectively an “island nation”, with 99 per cent of its goods arriving by sea. Regarding the port in Ashdod, he said that it handles 40 per cent of these goods and has recently served both Israeli and American security and military institutions with their ships. He also emphasised that Ashdod is a critical strategic facility that continues to operate despite being targeted by missiles.