economicUnverifiedUSProxy
○ 1 source
According to a report by Lloyd's List Intelligence, tanker traffic at Saudi Arabia's Yanbu port has declined by more than a third following the Houthis' July 20 announcement of a blockade on Saudi vessels in the Bab al-Mandeb strait. To maintain crude exports, Saudi Aramco is reportedly utilizing a three-part operation involving shuttle tankers to Egypt and the SUMED pipeline, a process that the report states increases tanker requirements and extends delivery times for Asian buyers.
Location: Saudi Arabia