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Red Sea Global (RSG; Arabic: البحر الأحمر الدولية), previously known as The Red Sea Development Company, [4] is a real estate development company based in Tabuk, Saudi Arabia. The company was founded in July 2017 by the Saudi crown prince Mohammed bin Salman, and is owned by the Public Investment Fund. [5] As one of Saudi ...
The Red Sea. The Red Sea Project (Arabic: مشروع البحر الأحمر), simply referred to as The Red Sea (Arabic: البحر الأحمر), is a tourism megaproject under construction in the Red Sea coast of Saudi Arabia. The project, which is developed by Public Investment Fund -owned Red Sea Global, forms part of the Saudi Vision 2030 ...
August 2024 oil spill caused by attacks on the tanker Sounion; Location: Red Sea, "77 nautical miles to the West of Al Hudaydah": Coordinates: 1]: Date: 22 August 2024: Cause; Cause: Destruction of the oil tanker Sounion by Houthi militants: Operator: Delta Tankers: Spill characteristics; Volume: Up to 150,000 tons (~1 million barrels) of petroleum: The attacks on the MT Sounion refers to ...
Global trade fell 1.3% from November to December, Germany’s Kiel Institute for the World Economy said Thursday, citing “consequences of the attacks on cargo ships in the Red Sea.”
San Francisco-based global logistics firm Flexport says historically 90% of cargo shipped from China to Europe would have moved through the Red Sea, but now 90% of that traffic is taking a detour ...
16. 20. 24. 28. 32. Operation Prosperity Guardian is a United States -led military operation by a multinational coalition formed in December 2023 to respond to Houthi-led attacks on shipping in the Red Sea. [ 12 ] Following the breakout of the ongoing Israel–Hamas war in October 2023, the Houthi movement in Yemen blockaded Israel in the Red ...
The Red Sea serves an important role in the global economy, with cargo vessels traveling between the Indian Ocean and the Mediterranean Sea every year, thus shortening the path between Asia and Europe almost by half (as compared to traveling around Africa via the Atlantic Ocean). [53] 12% of global trade passes through the Red Sea. [54]
Between November and December 2023, a 1.3 percent decrease in global trade resulted from Houthi attacks on commercial shipping in the Red Sea. [321] By March 2024, over 2,000 ships had diverted routes away from the Red Sea, making costlier voyages, since the first Houthi attack the previous November.