Tanker traffic at Saudi Arabia’s Yanbu port on the Red Sea has fallen by more than a third since the Houthi armed group in Yemen announced a blockade of Saudi ships throughout the Bab al-Mandeb Strait last month.
– Lloyd’s List, a UK-based shipping intelligence firm, says Saudi Arabia is coping with the blockade by rerouting crude exports by using shuttle tankers, Egypt’s SUMED pipeline and the Sidi Kerir port on Egypt’s Mediterranean Sea coast.
– But the “patchwork system” ties up more vessels and adds weeks to travel times for cargo destined for Asia, it adds.
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