Saudi Aramco is the national petroleum and natural gas company.

Saudi Bahri is the national transportation and logistics company.

Bab al-Mandeb (translated the "Gate of Sorrows") connects the Indian Ocean to the Red Sea. It is considered a critical choke point for much of the world's commerce. A significant portion of the trade between the European Union and China, Japan, India and the rest of Asia passes through the Bab el-Mandeb daily, not to mention oil and gas deliveries.

Earlier today, Iran-backed Houthi rebels carried out missile attacks on two Saudi Very Large Crude Carriers (VLCCs) in the Red Sea. One sustained damage.

It is expected that other shipping groups will be following Saudi Arabia's lead.