With the Strait of Hormuz closed due to the war in the Middle East, South Korean vessels have been rerouting crude oil shipments through the Red Sea.
The Ministry of Oceans and Fisheries said Friday that a South Korean oil tanker had safely transited the Red Sea. The vessel loaded crude oil at Saudi Arabia's Yanbu port and is now en route to South Korea. It is the 14th time a South Korean ship has transported crude oil through the Red Sea since the Strait of Hormuz was closed in late February.
South Korean oil tankers that have completed the Red Sea passage are arriving at domestic ports in sequence to offload their cargo. The government views the Red Sea route as the practical option for now, given that the Strait of Hormuz has yet to stabilize.
The ministry said it had supported the safety of the vessel and its crew throughout the Red Sea transit through around-the-clock real-time monitoring, navigation safety information, and open communication channels with the shipping company and the ship. "We will continue to do our utmost to stabilize the domestic crude oil supply," it added.
Meanwhile, Reuters reported that Iran has instructed Houthi rebels to blockade the Bab el-Mandeb Strait — the gateway to the Red Sea on the western edge of the Arabian Peninsula — should Iran's power infrastructure come under attack, heightening tensions in the area. If the Houthis were to seize control of the Red Sea as well, global oil supplies would likely take a significant hit.
won@heraldcorp.com
