A new land-sea route established by Saudi Arabia adds 2 million barrels a day. Saudi Arabia is leaving OPEC, and the UAE will leave in early May to get this done. They reportedly made a deal with the U.S.
AssaFina Online reports that the UAE and Saudi Arabia, the Middle East region’s two largest economies, are boosting trade connectivity. This will help move cargo more quickly amid supply chain disruptions caused by the Iran war. It involves integrating ports in both countries, bypassing the Strait of Hormuz, and inland logistics hubs such as the Sajaa Dry Port in Sharjah.
Indeed, by leveraging Khorfakkan Inland Corridor—Khorfakkan Commercial Terminal, Sajaa Dry Port, and integrated inland and land-sea corridors, we enable direct, reliable transport linking the UAE to the key Saudi market, Dammam,” Gulftainer said in a post on LinkedIn. It is not known what types of goods will be transported between Dammam and Sharjah or the total annual volume. The new corridor is significant as the Strait of Hormuz remains effectively closed for shipping traffic as Iran attacks vessels transiting through the vital waterway between Iran and Oman.
Read Full Article: https://www.independentsentinel.com/uae-saudi-arabia-chart-new-routes-bypassing-the-strait/
