Logistical Nightmare in the Red Sea for Saudi Arabia

Logistical Nightmare in the Red Sea for Saudi Arabia 🔹 A new report from Reuters indicates that the blockade of Saudi Arabian ports by Yemen's armed forces has forced Saudi shipping companies to change their traditional routes, resulting in a significant increase in costs and transport time for goods. 🔹 Oil tankers from the port of "Yanbu" are now compelled to circumnavigate Africa, adding 4 weeks to their travel time as a result of this route change. 🔹 This new route has greatly increased the final transportation costs compared to the usual route (traveling from Yanbu eastward to the Arabian Sea). 🔹 This logistical crisis has not only increased time but has also placed the global energy supply chain under cost shock, exacerbating concerns over rising prices.