Saudi Arabia expands shipping services via Red Sea

Saudi Arabia’s port authority has added five new maritime shipping services following Iran’s near-closure of the Strait of Hormuz amid the conflict that began on February 28.

The move will strengthen connectivity via the Red Sea and aims to provide supply chain continuity and flow of goods, the state-run Saudi Press Agency reported. 

The services were introduced in collaboration with global shipping lines including Switzerland’s MSC, France’s CMA CGM, Denmark’s Maersk and Germany’s Hapag-Lloyd.

They will operate across multiple maritime routes, connecting the kingdom’s ports with regional and global destinations.

The total capacity of the services is 63,594 twenty-foot equivalent units.

Last week data from tankers tracked on the website MarineTraffic indicated that Saudi Arabia may be exporting four times as much oil through the Red Sea compared to last month.

Further reading:

• Aramco oil exports spike after shift to Red Sea ports
• Ships test ‘Iran-approved’ Hormuz corridor
• UAE businesses scramble for Hormuz trade alternatives