A growing number of tanker operators are avoiding the Red Sea, with several tankers altering their routes on Friday, as indicated by shipping data.
This change in course follows overnight airstrikes by the U.S. and UK in Yemen, heightening tensions in an already unstable Red Sea region.
These airstrikes, launched from air and sea, were a response to the Yemeni Houthi militia’s assaults on vessels in the Red Sea, a crucial route for international trade. The Combined Maritime Forces (CMF), a multi-national naval coalition led by the U.S. and based in Bahrain, has advised all vessels to steer clear of the Bab al-Mandab Strait at the southern end of the Red Sea for a few days, as reported by tanker organization INTERTANKO.
The Houthi militia has been attacking commercial ships since the previous year, claiming these actions support the Palestinians in response to Israel’s military campaign in Gaza, governed by Hamas. These attacks have primarily occurred near the Bab al-Mandab Strait, located southwest of the Arabian Peninsula.
Adding to the regional tension, Iran seized a tanker carrying Iraqi crude oil bound for Turkey on Thursday, an incident occurring near the Strait of Hormuz, a vital shipping lane situated between Oman and Iran.
The tankers Toya, Diyyinah-I, Stolt Zulu, and Navig8 Pride LHJ were all observed reversing their course to bypass the Red Sea, with these movements recorded between 0300 and 0730 GMT on Friday, based on ship tracking data from LSEG and Kpler.
On Friday, five additional oil tankers – Madarah Silver, Hafnia Thames, Free Spirit, Front Fusion, and Gamsunoro – either altered their routes or halted their journey.
By 1542 GMT, oil prices had increased by approximately 2%, with an earlier surge seeing Brent crude trading over $80.
SEB analyst Bjarne Schieldrop expressed concerns about the oil market, noting the unpredictable escalation in the region could eventually lead to a significant disruption in oil supply.
In recent weeks, many shipping companies have chosen to bypass the Red Sea area due to increased risks.
Although there have been some tanker reroutes, supply chain disruptions have primarily affected the container shipping sector since the Houthis intensified their maritime attacks in December. Oil tanker movement through the Red Sea remained consistent last month.
The number of tankers affected by Friday’s diversions was relatively small compared to the daily average of 76 tankers in the southern Red Sea and Gulf of Aden in December, as reported by MariTrace tracking service.
Alberto Ayuso Martin, head of research at Spain-based Medco Shipbrokers, suggested that the U.S. and British strikes on Yemen could be a turning point, potentially making the Bab al-Mandab Strait a war zone for some time.
Danish oil tanker group Torm (TRMDa.CO) announced on Friday that it would temporarily suspend all transits through the southern Red Sea.
Shipping companies Hafnia (HAFNI.OL) and Stena Bulk also stated their intentions to avoid the Bab al-Mandab Strait.
Major container shipping firms Maersk (MAERSKb.CO) and Hapag Lloyd (HLAG.DE) have welcomed efforts to secure the region, but they did not confirm whether the U.S. and British strikes would prompt them to resume using the Suez Canal, a key route between Asia and Europe handling about 12% of global container traffic.
Last month, Belgian oil tanker company Euronav (EUAV.BR) announced it would steer clear of the Red Sea area until further notice. A company spokesperson reaffirmed this policy on Friday.
