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Free AccessOver 156 Tankers Divert from Red Sea to Cape: OB
The number of tankers that have diverted around southern Africa continues to rise as shippers look to avoid the Red Sea, according to Oil Brokerage.
- 156 oil tankers have diverted from the Red Sea via the Cape of Good Hope since US and UK strikes on the Houthis began. This represents 2% of the global tanker fleet.
- Crude transits via the Bab al-Mandab strait also remain dominated by Russian barrels, OB said.
- Total northbound crude/condensate transits via Bab el-Mandeb continued to be at low levels of 120k b/d last week. Just one Suezmax carrying Iraqi crude headed to the Mediterranean.
- Clean product transits via Bab al-Mandab fell to 210k b/d, compared to the usual 2m b/d.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.