Red Sea shipping slows after Houthi attack on Saudi Arabia, data shows

SINGAPORE – Ship traffic through Bab el-Mandeb fell on July 26 after Yemeni Houthis attacked Saudi oil installations along the Red Sea coast, while transit through the Strait of Hormuz stayed low over the weekend, shipping data from Kpler showed on July 27.

Eleven commodity vessels passed through the Bab el-Mandeb strait on July 26, the lowest level in months, the data showed.

Red Sea traffic has been disrupted off the coast of Yemen since last week by the Tehran-aligned Houthis, who want to blockade Saudi exports, expanding the US-Iran conflict that has already choked oil supply through the Strait of Hormuz.

The shipping disruption caused prices of physical crude cargoes in the Middle East, Europe and Africa to jump to two-month highs last week.

Seven of the vessels that passed through Bab el-Mandeb were oil tankers with three of them entering the Red Sea.

Two of them are very large crude carriers (VLCCs) heading to the port of Yanbu to load Saudi crude while the third is a Russian-linked ship, the data showed.

The four vessels that exited the Red Sea on July 26 included the Hong Kong-flagged VLCC New Explorer carrying two million barrels of Saudi and Emirati crude for eastern China's Ningbo port, a tanker carrying one million barrels of Russian crude for China and a tanker with about 750,000 barrels of Saudi crude onboard for Pakistan, the data showed.

Another Hong Kong-flagged VLCC New Pearl carrying two million barrels of Saudi crude is exiting the Red Sea via Bab el-Mandeb strait for eastern China’s Zhoushan port, the fourth Chinese supertanker to leave since the Houthis declared a naval blockade.

Associated Maritime Hong Kong, the manager for New Explorer and New Pearl, did not immediately respond to a request for comment outside office hours.

Houthi military spokesperson Yahya Saree said the group struck sites belonging to Saudi state oil company Aramco in the cities of Jizan and Yanbu on July 25.

Hormuz

Fewer than 10 commodity vessels passed through the Strait of Hormuz daily over the weekend even though the US and Iran have paused strikes in the Middle East, shipping data from Kpler showed.

Seven vessels transited on July 26 including three Iranian-linked oil products tankers that exited the Strait, the data showed.

On July 25, there were only three vessels that passed through with their transponders switched off.

These include a VLCC heading to Qatar to load oil, a liquefied petroleum gas tanker going to the Ruwais port in the United Arab Emirates (UAE) to load a cargo and a tanker carrying Qatari naphtha that was heading to Japan, the data showed.

On July 24, seven vessels passed, mostly exiting the Gulf, including two VLCCs carrying crude from Iraq and the UAE and a tanker carrying fuel oil. REUTERS