Saudi Arabia-flagged, owned or operated vessels, vessels en route to or from Saudi Arabia and the Kingdom's Red Sea ports are assessed at high risk of a Houthi attack, according to Ambrey Analytics.
Ambrey, a maritime security company, said this in a statement following the 20 July declaration by Houthi military spokesperson Yahya Sare’e of a maritime embargo against Saudi Arabia. He warned that the Houthis—who are aligned with Iran—will target all ships affiliated to Saudi Arabia that operate in the Red Sea and Gulf of Aden in case of non-compliance.
The announcement was preceded by a period of heightened tensions between the two sides.
Ambrey said, “Companies are advised to conduct affiliation checks against the Houthis’ target profile and to reconsider high-risk transits.”
Insurance
Meanwhile, Reuters reported that the insurance cost ?of shipping goods through the Red Sea rose on 20 July following the Houthis' warning.
Indicative war risk ?premiums rose to around 0.75% of the value of a ship, from around ?0.3% on 17 July before the Houthi announcement.
The full closure of the Bab el-Mandeb Strait, the southern gateway linking the Red Sea ?to the Gulf of Aden, would halt Saudi oil exports to Asia ?and could ?reduce global oil supply by 7%.