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A South Korean oil tanker is transporting crude oil home through the Suez Canal in the northern Red Sea, as rising dangers in the Bab el-Mandeb Strait to the south have cut off the detour route used since the Strait of Hormuz was blocked.
The Ministry of Oceans and Fisheries confirmed Monday that a South Korean oil tanker loaded crude at Saudi Arabia's Yanbu port and is now sailing home after passing through the Suez Canal.
It is the 16th South Korean tanker to route crude through the Red Sea since the Strait of Hormuz was blocked in late February.
However, the previous 15 tankers all passed through the Bab el-Mandeb Strait after loading at Yanbu, making this the first to use the Suez Canal instead since the Hormuz closure.
Tensions in the Bab el-Mandeb Strait have been running high due to military clashes between Saudi Arabia and Iran-backed Houthi rebels in Yemen. No South Korean tanker had passed through the strait after loading at Yanbu since July 19.
Refiners around the world have consequently been exploring an alternative route — sailing north from Yanbu and through the comparatively safer Suez Canal — though the longer distance makes additional costs unavoidable.
The ministry said the decision to use the northern Suez Canal route rather than the southern Bab el-Mandeb Strait was made by the shipping company and the cargo owner.
"We supported the safety of our vessel and crew through 24-hour real-time monitoring, navigation safety information, and a live communication channel among the ministry, the shipping company and the ship while it sailed through the Red Sea," the ministry said, adding that it would continue to do its utmost to stabilize domestic crude supply.
gil@heraldcorp.com
