Heavy blow to global trade

72

Following the declaration of an embargo by Yemen’s “Ansar Allah” movement (Houthis) against ships connected to Saudi Arabia, the movement of commercial vessels in the Bab el-Mandeb Strait has decreased by 56 percent.

According to sea-news.az citing the newspaper The National, that figures from the analytical company Kpler revealed that only 15 cargo ships passed through the strait on July 26. However, on July 20, the day the blockade was announced, this figure was 34 ships. The shipments mainly consisted of oil, grain, and fertilizer cargoes.

The sharp decline in shipping was recorded against the backdrop of the Houthi attacks organized against Saudi Aramco facilities located in the Saudi cities of Jizan and Yanbu.

At the same time, the publication noted that vessel movement in the Strait of Hormuz began to increase again on July 26, following the easing of mutual military tensions between the US and Iran.