Korean Tanker Uses Suez Route for Crude Oil

On October 5, the Ministry of Oceans and Fisheries announced that a Korean tanker had successfully navigated through the Suez Canal, carrying crude oil to South Korea. As of 10 a.m. that day, the vessel was en route to its destination in Korea. This marked the first time a Korean tanker had passed through the Suez Canal in approximately one and a half months, since August 19.

The Strait of Hormuz had been blocked at the end of February, prompting Korean tankers to utilize the Red Sea as an alternative route. Typically, this involved loading crude oil at the port of Yanbu in Saudi Arabia and passing through the Bab el-Mandeb Strait at the southern end of the Red Sea. However, as tensions between Saudi Arabia and Iran-backed Houthi rebels escalated, posing a greater threat in the Bab el-Mandeb Strait, tankers began utilizing the northern Suez Canal route starting in mid-August.

Passing through the Suez Canal via this route necessitated sailing through the Mediterranean Sea and rounding the southern tip of Africa, which significantly extended the journey and increased the financial burden. The tanker that successfully sailed through the Suez Canal on this occasion was the 18th vessel to transport crude oil to South Korea via the Red Sea since the closure of the Strait of Hormuz.

It also marked the third vessel to pass through the Suez Canal. The Ministry of Oceans and Fisheries explained that the decision to choose the northern side of the Suez Canal over the Bab el-Mandeb Strait was made by shipping companies and cargo owners.