Commodities
Home›Commodities›Energy›Houthi threats disrupt Saudi crude tankers’ Asia route…
Houthi threats disrupt Saudi crude tankers’ Asia route via Suez
A supertanker carrying partially Saudi crude shifted from the Bab el-Mandeb to the Suez-Africa route, adding about a month to the trip to Asia.
Threats from the Iran-aligned Houthis to shipping in the Red Sea are forcing some Saudi crude tankers to avoid the Bab el-Mandeb Strait, the shorter passage to Asia. OilPrice reports that the disruption has led at least one tanker to take a significantly longer route.
According to shipping data monitored by Bloomberg, the supertanker Olympic Luck, Greece-flagged and owned by a Greece-based operator, transited the Suez Canal into the Mediterranean late on Sunday after loading partially with Saudi crude at Yanbu on the Red Sea. The reported U-turn away from Bab el-Mandeb reflects tanker owners’ reluctance to risk crossing southward into the Arabian Sea amid Houthi threats and recent strikes on Saudi tankers.
Traffic through Bab el-Mandeb has materially slowed, with ship-tracking services showing reduced volumes, and some vessels are moving north in the Red Sea toward the Suez Canal instead. OilPrice adds that the Suez-Africa route to Asia makes the journey about a month longer than travel through Bab el-Mandeb.
The article also notes a similar rerouting last week, when the Denmark-flagged tanker Torm Innovation turned away from Bab el-Mandeb and moved toward the Suez Canal after loading oil and chemical products at Yanbu. OilPrice reports that the tanker was then in the East Mediterranean, underscoring the ongoing shift in routing decisions.
Latest closeWTI crude $90.47 ▼1.9%