*Saudi Arabia imported a record $11.16bn of goods through its Red Sea ports in August, while imports to its Gulf Coast ports shrank further to just $550mn. The redirection of imports to Saudi Arabia’s Red Sea since the start of the Hormuz crisis has enabled total seaborne imports to stabilize at just under $12bn per month.
*Red Sea imports proved robust in August despite the opening of a new front in the regional conflict, with Yemen’s Houthis targeting Saudi shipping from late July onwards (MEES, 31 July). (CONTINUED - 151 WORDS)
