Yemen closes its territorial waters

As a result of political situation in the region, navigation in Yemen\’s territorial waters has been banned this week and ships are not allowed into Yemen unless inspected and approved by Saudi-led coalition forces.

Only emergency goods and medical aid vessels will be allowed entry into Yemen after being searched and approved by coalition forces.

A Saudi Arabia- backed blockade of ports in Yemen is affecting shipping activity including the delivery and loading of oil and gas shipments.

The Grace Acacia, a Bahamas -flagged liquefied natural gas tanker, was scheduled to load cargo at the Balhaf LNG terminal on Friday, but the loading has been delayed and the tanker is currently anchored at the Fujairah port in the UAE.

The Yemen LNG plant has a capacity of 6.7 million tons a year and supplies a large portion of its output to Asian markets. However, the impact on LNG prices could be limited due to existing excess supply in Asia.

Yemen has been at the crossroads of Africa, the Middle East and Asia for thousands of years thanks to its position on the ancient spice routes.

Yemen has been torn by political conflict for decades and is the poorest country in the Middle East. Yemen\’s instability has raised fears that the conflict there could spread to other countries in the region.



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