Gulf powers invest in ports to bypass Strait of Hormuz

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Gulf powers invest in ports to bypass Strait of Hormuz
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BOE Report

The war has effectively blocked the Strait of Hormuz for much of the past six months, prompting Gulf energy exporters to commit billions to ports, pipelines and rail to reduce reliance on the chokepoint that once carried about 20% of global oil flows. Trade is being redirected to Saudi Red Sea ports and eastern UAE ports, but capacity is smaller and permanent alternatives could cost hundreds of billions. Sovereign wealth funds and external investors are stepping in, while disruptions have cut AD Ports' UAE throughput by around two thirds in Q2 and hurt refineries, aluminium plants and air traffic.

Gulf states are investing billions to bypass the Strait of Hormuz

Context

A war has disrupted shipping through the Strait of Hormuz. The strait was virtually blocked for much of the past six months. Gulf countries are building ports, pipelines and rail to avoid the strait and may seek external funds.

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