*Saudi Arabia imported a record $30.2bn worth of goods through its Red Sea ports in Q2 due to the re-shaping of trade flows caused by the Hormuz crisis. In contrast, imports to Gulf coast terminals dropped to an all-time low of just $2.9bn for the quarter, and most of this was of cargoes shipped within the Gulf.
*The latest government data show that Red Sea imports peaked at $10.8bn in May – an upwards revision from an initial reading of $8.9bn (MEES, 31 July). This dipped to $9.8bn in June (see chart), although this figure could ultimately be revised up. (CONTINUED - 207 WORDS)
