The Israeli Ports and Maritime Authority, part of the Ministry of Transportation, announced on Wednesday that the port of Eilat will cease operations completely starting next Sunday, July 20, following the worsening debt crisis.
A letter from the National Emergency Authority stated that the closure decision stemmed from the Eilat Municipality’s seizure of the port’s bank accounts due to accumulated debts, which hinders the port’s ability to continue operating.
The authority asserted that this move threatens to halt logistical support for the Israeli Navy in the Red Sea region, warning of potential security repercussions.
Israel’s Channel 12 reported that “one of Israel’s most important ports” would be blocked, describing it as a “dramatic step.”
It’s worth noting that the Israeli government approved an urgent financial grant of 15 million shekels for the port last June, but this was insufficient to cover its financial obligations and restore normal activity.
Activity at the port of Eilat has been almost completely halted since the outbreak of the October 7 war. According to Israel’s Channel 12, port revenues for 2024 have declined by 80 percent.
In 2023, the port’s revenue was NIS 212 million while in 2024, when the Red Sea trade route was closed, revenue fell 80% to just NIS 42 million. In 2023, over 134 ships visited the port, and 150,000 vehicles were unloaded. In 2024, no vehicles were unloaded, and only 16 ships visited the port. In the first half of 2025, only 6 ships visited the port.
But although the port is private, it is also a strategic asset of the state, and it is doubtful whether the efforts made so far have been enough to keep it open.
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