Situation in Yemen - Update

The UK P&I Club have received the following update from local correspondents.

On Monday 14th August 2017, the Central Bank of Yemen issued a circular to all banks in Yemen instructing them to float the local Yemeni currency of Yemeni Rial "YR". The Central Bank of Yemen instructed local banks to use the market rate instead of fixed Central Bank rate. As a result, current exchange rate of YR 250 to the one US Dollar is expected to reach more than YR 370 to the one US Dollar.

Yemeni ports status as of 15th August 2017 as follows:

Open ports:

1. Aden
2. Mukalla
3. Ash Shihr Oil Terminal
4. Nishtun
5. Hodeidah
6. Saleef
7. Ras Isa (petroleum product tanks).

Closed ports:

1. Ras Isa Marine Terminal (FSO Safer)
2. Mokha 
3. Balhaf LNG Terminal

Source of Information

Hisham Al-Saqaf,

General Manager

GAC Yemen Ltd.

PO Box 5202,

Ma'alla, Aden,

Republic of Yemen

Tel: +967-2 247161

Fax: +967-2 247163

Mob: +967- 777176131

Email:

Hisham.Al-Saqaf@gac.com

Website:

www.gac.com