Renewed clashes in Yemen have impacted maritime traffic in the region, with a significant decline in Saudi exports. Data shows that only five ships carrying Saudi cargo traversed the Red Sea through the Bab al-Mandab strait in the past week, less than a third of the usual weekly traffic since January. This development has raised concerns about the security of shipping in the area.
The Houthi militia, backed by Iran, has asserted control over the Bab al-Mandab strait, a vital waterway separating Yemen from the African Horn. The strait is a critical passage between Europe and Asia via the Suez Canal. The Houthis have threatened to attack Saudi ships, prompting a significant reduction in maritime traffic.
According to data from the maritime tracking company Kpler, the rate of oil flows through the strait has decreased, with approximately 3.4 million barrels per day passing through since September 11, compared to an average of 4.4 million barrels per day since the beginning of the year. This decline has implications for global oil supplies.
The Houthis claim that there is no threat to maritime navigation in the strait, except for Saudi ships. However, this assurance has not alleviated concerns among ship owners, who are exercising caution in the face of potential attacks. Data shows that while the movement of ships carrying crude materials through the strait has slowed, it has not come to a complete halt.
In the past week, an average of 24 ships per day passed through the strait in both directions, down from an average of 31 daily crossings since the beginning of the year. The reduced traffic has significant economic implications, particularly for Saudi Arabia, which is the world's largest exporter of crude oil.
The impact of the disturbances in maritime traffic through Bab al-Mandab strait is being closely monitored by global shipping and oil industries. The strait's significance as a critical passage for international trade and oil supplies underscores the need for stability and security in the region.
The situation in Yemen remains volatile, with the Houthi militia maintaining control over the Bab al-Mandab strait. The international community is closely watching developments in the region, with concerns about the potential for further escalation and its implications for global maritime trade and security.
Key points
- The Bab al-Mandab strait is a critical passage for international trade and oil supplies, with approximately 3.4 million barrels of oil passing through daily.
- Renewed clashes in Yemen have led to a significant decline in Saudi exports and maritime traffic through the Bab al-Mandab strait.
- The Houthi militia's control over the Bab al-Mandab strait has raised concerns about the security of shipping in the region.
