Tanker traffic at Saudi Arabia's Yanbu port falls by a third, report says
Tanker traffic at Saudi Arabia's Yanbu port falls by a third, report says Tanker traffic at Yanbu, Saudi Arabia's main Red Sea oil terminal, has fallen by more than a third since Yemen’s Houthis announced a blockade of Saudi vessels through the Bab al-Mandeb strait on July 20, Lloyd's List Intelligence reports. To deal with the blockade, Saudi energy giant Aramco relies on a three-part operation…
Tanker traffic at Saudi Arabia's Yanbu port, the country's primary Red Sea oil terminal, has declined by more than a third since the Houthis announced a blockade of Saudi vessels through the Bab al-Mandeb strait on July 20, according to Lloyd's List Intelligence. To circumvent the blockade, Aramco, the Saudi energy giant, has implemented a three-part operation to transport crude: shuttle tankers transfer crude from Yanbu to Egypt's Ain Sukhna, the SUMED pipeline then transports it to Egypt's Mediterranean port of Sidi Kerir, and vessels reload there for further delivery.
While this alternative route ensures the continuous flow of Saudi crude, it necessitates the use of more tankers and extends voyages for Asian buyers by several weeks.
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