Oil tankers reroute due to new threat
Bloomberg reports that giant oil tankers are currently heading to the Port of Sidi Kreir in Egypt to load Saudi oil, following a decrease in Saudi imports via the Red Sea due to Houthi threats. At least eight VLCCs (Very Large Crude Carriers) are likely to arrive at the port in the coming weeks, including vessels that were previously headed to the United States or Japan, but changed course after the attacks on ships in the Red Sea. These movements come as the Saudi government continues to pump oil through a pipeline connecting Yanbu to the Red Sea coast to bypass the Strait of Hormuz, amid a decline in maritime activity off Yanbu’s port, and possibly some ships hiding to avoid detection.
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