$800 million losses of Red Sea Ports Corp. due to 5 years of war, blockade

HODEIDAH, March 28 (YPA) – Yemen Red Sea Ports Corporation on Saturday announced that its losses due to the war and the blockade imposed by Saudi-led coalition during five years exceeded 800 million dollars.

The Corporation indicated, in a statement, that the various import ships declined from 794 ships in 2014 to 191 at their lowest level during the year 2018.

The statement confirmed the decline in merchandise imports from 6,640,000 tons in 2014 to 3,500,000 tons during the years of the blockade, while the volume of fuel imports decreased by half and at the lowest level during the years of the blockade.

“75 per cent of the export activity stopped after its activity decreased from 227,000 tons to 59,000 tons,” the corporation said.

It indicated that 12,000 employees and workers in the ports of Hodeidah were directly and indirectly affected by the repercussions of the embargo.

“The declared losses are for the Corporation only and do not include the corporation’s association with the national economy, the private sector and labor movement,” the Corporation’s Chairman of board of Directors Mohammed Ishaq said.

He pointed out that due to the wrong policies of the previous regime; Yemen’s foreign imports reached 90 per cent of food and agricultural materials, although Yemen is an agricultural country!

YPA