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Tanker Diversions due to Red Sea Tensions Limited: Vortexa

OIL

Tanker flows largely continue to move via the Red Sea despite recent attacks in the region according to Vortexa.

  • Diversions are mainly constrained to US/EU/Israel-linked entities and also the companies that announced the decision to divert via the Cape of Good Hope.
  • Transit numbers through the region are about 15% lower than the average of 2023 – more pronounced for LNG and LPG tankers.
  • Since the second half of December 2023 until late last week- 19 vessels have diverted or transited via the Cape of Good Hope going Southbound (West to East), instead of heading via the Suez Canal carrying a combined 290kt of CPP and 860kt of Crude/DPP Vortexa said.
  • 13 vessels have diverted via the Cape of Good Hope going Northbound (East to West) instead of heading via the Bab-el Mandeb strait carrying around 560kt of CPP and 90kt of Crude/DPP.


Source: Vortexa

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