Gate of Grief

Houthi attacks on shipping in the Bab el-Mandeb Strait threaten to increase the shipping cost of oil and natural gas and hence the world price of these commodities for everyone. The ominous English phrase for the strait is the “gate of grief” and that is the fate which has befallen an increasing number of ships, including container ships and tankers. “In 2018, an estimated 6.2 million barrels per day (b/d) of crude oil, condensate, and refined petroleum products flowed through the Bab el-Mandeb Strait… Total petroleum flows through the Bab el-Mandeb Strait accounted for about 9% of total seaborne-traded petroleum (crude oil and refined petroleum products) in 2017. About 3.6 million b/d moved north toward Europe; another 2.6 million b/d flowed in the opposite direction mainly to Asian markets such as Singapore, China, and India.”