Saudi Oil Tankers Bypass Red Sea Chokepoint Amid Houthi Threats

Six Saudi oil tankers are diverting from the Bab el-Mandeb chokepoint in the Red Sea due to threats from Houthi rebels. The vessels, owned by Bahri's national shipping company, are instead sailing around Africa to reach their destinations. Two empty very large crude carriers, Hazm and Dilam, are signaling Gibraltar in the Mediterranean Sea for refueling.

The other tankers, Ghinah, Laynah, Salam, and Burqan, indicate South Africa's Durban or Algoa Bay as their next ports of call. This route will add at least two weeks to their journey compared to taking the shorter route through Bab el-Mandeb.

Saudi Arabia has also been redirecting some Asia-bound crude flows from its Red Sea export port of Yanbu to Egypt's Sidi Kerir on the Mediterranean coast, where a new pricing mechanism is being explored for buyers. Some tankers are still transiting the chokepoint, including Chinese and Pakistan-flagged ships.