Asian refiners look to Suez Canal to move Saudi oil amid Houthi shipping threats
Asian refiners are weighing a longer Suez Canal route as 2 tankers carrying 2.8 million barrels reversed course, Kpler said.
- Asian refiners are weighing a Suez Canal route for Saudi crude after the Houthis announced a blockade, forcing tankers including the Rodos and Xin Long Yang to reverse course in the Red Sea and seek alternative passages through Bab al-Mandeb.
- The Houthis announced a naval blockade of Saudi Arabia on Monday, threatening a "siege" in retaliation for an attack on Sanaa International Airport; this follows their 2023–2025 campaign using missiles and drones to disrupt regional shipping.
- Kpler analyst Homayoun Falakshahi warned that fully laden VLCCs cannot transit the Suez Canal, requiring a shift to smaller Suezmax tankers or lightering operations; this would extend voyages from about 24 days to roughly 54 days while increasing costs.
- India faces severe exposure with more than half its crude imports transiting Bab al-Mandeb, while the Philippines imports 37 percent and South Korea 31 percent through the same corridor, leaving major Asian economies vulnerable to supply disruption.
- Simultaneous disruptions at both Hormuz and Bab al-Mandeb could tighten global crude availability and push oil prices above $100 a barrel, leaving Asian consumers with limited alternatives and exposing fragility in current energy supply chains.
17 Articles
17 Articles
Maritime Reporter
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