Iran. The crisis regarding global energy supply seems to be deepening. The Strait of Hormuz is already closed and now the routes to the Red Sea and Bab-el-Mandeb have also become difficult. The Houthis this week targeted Saudi Arabia across the border from Yemen. Along with this, occupation of the important port Mokha in the Red Sea and Perim Island located in the Bab-el-Mandeb Strait has also been claimed.
The Bab-el-Mandeb is one of the world's most important maritime trade routes. In some parts its width is only 12.5 miles. It is a vital route for cargo ships and oil tankers coming from Asia and the Middle East to reach the Suez Canal. Major shipping lines are less than three miles from Perim Island. In such a situation, this area is considered to be under the attack of Houthi missile and drone attacks, which poses a major threat to international shipping.
After Hormuz, alternative route to Saudi Arabia also closed
After Iran closed the Strait of Hormuz, Saudi Arabia had adopted the option of transporting its oil to the Red Sea ports through the East-West Pipeline. Through this he was increasing his dependence on the Bab-el-Mandeb route.
But after the attack on the East-West Pipeline on Thursday, Saudi Arabia has also closed this pipeline for the time being. The pipeline became an important alternative route for Saudi Arabia after oil movement in the Strait of Hormuz was affected due to Iran-US tensions.
What is the impact of Houthi occupation in the Red Sea?
The increased danger in Bab-el-Mandeb has increased difficulties for ships passing through the Red Sea. Due to this, important energy and trade corridors of the world are getting disrupted one after the other.
Through Bab-el-Mandeb, ships can directly reach the Arabian Sea via the Gulf of Aden. At the same time, ships going to Europe reach the Red Sea through this strait and then the Mediterranean Sea via the Suez Canal.
A large part of Saudi Arabia's oil goes to Asian countries. In such a situation, the challenge of delivering oil to Asia has increased due to the impact of the Bab-el-Mandeb route.
Expenses will increase on traveling around Africa
Saudi Arabia has the option of transporting the oil north through a pipeline around the Suez Canal. But shipping oil across the Mediterranean to Asian markets is longer and more expensive.
Reaching Europe via the Red Sea and the Suez Canal was relatively easy, but if the Bab-el-Mandeb route was blocked, ships had to go to the southern tip of Africa. cape of good hope Will have to go by detour. This will increase both travel distance and transportation costs significantly.
The problem is also that Saudi Arabia's East-West Pipeline, which bypasses Hormuz, has also been closed after the attack. In such a situation, alternative sources of energy supply are becoming limited and if the situation persists for a long time, it can have a major impact on the global oil market.