Red Sea Tanker Traffic Plummets as Houthi Attacks Disrupt Key Energy Route

Oil tanker traffic through the Red Sea has plummeted by over 70% due to increased attacks from Houthi militants, disrupting a key energy route that handles nearly half of China's seaborne crude imports.

The Bab-el-Mandeb Strait, a critical passage for oil shipments between Saudi Arabia and China, has seen a significant decline in traffic. On Monday at noon, only one Very Large Crude Carrier (VLCC), the Kaizhu, passed through the strait carrying 300,000 tons of Saudi crude bound for Ningbo.

This decrease in traffic is attributed to the surge in Houthi attacks on oil tankers and ports in the region. The disruption has caused a significant impact on oil shipments, with crude loadings at Yanbu port in Saudi Arabia also dropping by over 70%.