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OIL
Large numbers of merchant ships continue to transit the Bab el-Mandeb strait despite the potential threat of Houthi attacks and warnings to avoid the area.
- The Combined Maritime Forces advised merchant ships to stay away from the passage from last Friday. The advice came following the first US/UK strikes on Houthi positions.
- A number of vessels turned away based on the advice but 114 vessel – including oil tankers, bulk carriers and container ships are still passing the area now according to Bloomberg vessel tracking.
- The latest count compares with 131 during the same period a week earlier, down from 272 ships in the same period a month ago and 252 during the same timespan six months earlier.
- Gas carriers have seen the biggest drop, with the number of ships down by 96% from a month ago. Oil tankers are down 55% over that period.
- Around 20 vessels are idle in the Gulf of Aden rather than diverting yet.
Source: Blomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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