EIA: Attacks in the Red Sea lead to heightened shipping durations and freight costs
Ships travelling via the Suez Canal between Europe and Asia have to cross the Bab el-Mandeb Strait, which links the Red Sea and the Gulf of Aden. In the first half of 2023, the Bab el-Mandeb Strait accounted for 12% of the seaborne oil trade and 8% of the trade in liquefied natural gas (LNG), …
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