Despite Houthi strikes, oil tankers continue their movements in the Red Sea.
Despite Houthi strikes, oil tankers continue their movements in the Red Sea. By Arathy Somasekhar and Georgina Mccartney 9:02 PM on January 9, 2024 Source reuters.com January 9, Houston (Reuters) - According to a Reuters study of vessel tracking data, oil and fuel tanker traffic in the Red Sea remained steady in December despite the fact that many container ships had to reroute as a result of strikes by militants affiliated with Iran. Shippers are still using the vital East-West waterway, thus the attacks have not had the expected impact on oil shipments, despite a substantial increase in insurance premiums and shipping prices. The Houthis, who claim to be targeting ships headed for Israel, have mostly targeted cargoes of non-petroleum items. Most shippers have not noticed a significant difference in costs thus far because shipping across the Red Sea is still significantly less expensive than shipping around Africa