By Ukumbi Afrika Fresh security threats in the Red Sea are beginning to disrupt global oil shipping, with several tankers altering their routes after Yemen's Houthi movement warned vessels against calling at Saudi Arabian ports.
According to ship-tracking data, at least five tankers changed course on Wednesday, while two redirected towards the Suez Canal instead of continuing through the Bab el-Mandeb Strait. Another vehicle carrier also appeared to reverse course in the Gulf of Aden after initially indicating it was bound for Saudi Arabia's Red Sea port of Jeddah.
The developments follow the Houthis' declaration of what they described as a naval blockade against Saudi Arabia, significantly expanding regional tensions and raising fresh concerns over the security of one of the world's busiest maritime trade routes.
Shipping Industry Reacts
Maritime broker Clarksons said the threats are already influencing tanker movements.
Several vessels that had loaded cargo at Saudi Arabia's Yanbu oil terminal reportedly abandoned plans to sail south through the Bab el-Mandeb Strait, instead heading north towards the Suez Canal or waiting offshore for further instructions.
The European Union's Aspides naval mission also warned that vessels connected to Israel, the United States or Saudi Arabia now face an elevated risk of attack while operating in the Red Sea and Gulf of Aden.
The advisory recommended that ships reduce electronic tracking signals and minimise publicly available voyage information to reduce the risk of being targeted.
Greek Warning
Greece's shipping ministry separately issued a warning to its merchant fleet, urging vessels operating in the region to remain on high alert and coordinate closely with the EU-led Aspides naval mission.
Among the affected ships were the Philoxenia products tanker and the Alexandros crude tanker, both of which were reported anchored near the Suez Canal after their original plans to load or proceed to Saudi Arabia were disrupted.
Strategic Importance of the Red Sea
The Bab el-Mandeb Strait serves as one of the world's most important energy corridors, providing Saudi Arabia with a critical alternative export route to the Strait of Hormuz through its east-west pipeline ending at Yanbu.
Maritime analysts warn that any sustained disruption could significantly complicate Saudi oil exports to Asian markets.
Broker Braemar noted that the Houthi threats cast serious doubt over the practicality of eastbound shipments departing from Yanbu.
Rising Shipping Costs
If vessels are forced to reroute via the Suez Canal before travelling around Africa to reach Asia, shipping distances could increase by approximately 10,000 nautical miles, adding nearly 34 extra sailing days.
The financial impact is substantial:
Estimated additional freight costs exceeding $5 million per voyage.
Around $1 million in Suez Canal transit fees per vessel.
Higher insurance premiums and fuel expenses.
These added costs could ultimately feed into global energy prices if disruptions continue.
A Persistent Maritime Threat
Commercial shipping in the Red Sea has yet to fully recover from the Houthi attacks that began in late 2023 during the Gaza conflict.
Although attacks largely subsided following the Gaza ceasefire in October last year, the latest threats indicate that maritime security risks remain far from over.
Shipping sources say vessels navigating the Red Sea have continued receiving radio warnings from Houthi forces since Monday, cautioning that any ship intending to load or discharge cargo at Saudi Arabian ports could become a military target.
Market Outlook
The renewed instability is likely to keep oil markets on edge. While Saudi crude exports have not been halted, the diversion of tankers and increased voyage costs could tighten supply chains, increase freight rates and place upward pressure on global crude prices if the security situation deteriorates further.
For energy markets, the Red Sea has once again become a critical geopolitical flashpoint, with shipping companies forced to weigh commercial efficiency against growing security risks.
Source: Reuters
Reporters: Jonathan Saul,Renee Maltezou,Yannis Souliostis,Ahmad Ghaddar& Nidhi Verma
Editing: Joe Bavier&David Goodman