4-month Red Sea's Bab al-Mandab Strait disruption by Yemen's Houthi rebels causes global LNG trade to split into regions.
4-month-long disruptions in the Red Sea's Bab al-Mandab Strait have caused global LNG trade to split into regions. Since mid-January, zero LNG tankers have traversed the narrow strait due to Yemen's Houthi rebels' attacks. As a result, vessels have been rerouted around Africa, causing limited pool of suppliers and higher shipping costs, leading to a fragmented global LNG market.
May 16, 2024
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