Red Sea Shipping Slows After Houthi Attacks on Saudi Oil Sites

Hong Kong-flagged New Explorer

Meanwhile, four tankers exited the Red Sea carrying crude destined for Asian markets. These included the Hong Kong-flagged New Explorer, transporting approximately 2 million barrels of Saudi and Emirati crude to Ningbo, China, another tanker carrying 1 million barrels of Russian crude for China, and a vessel delivering roughly 750,000 barrels of Saudi crude to Pakistan.

A second Hong Kong-flagged VLCC, New Pearl, carrying 2 million barrels of Saudi crude to Zhoushan, China, was also reported leaving the Red Sea, becoming the fourth Chinese supertanker to transit the route since the Houthis declared a naval blockade.

The Houthi military said it targeted facilities operated by Saudi state-owned oil giant Aramco in the Red Sea cities of Yanbu and Jizan on Saturday, further escalating tensions in the region.

Traffic through the Strait of Hormuz also remained subdued over the weekend despite a pause in direct U.S. and Iranian strikes. Fewer than 10 commodity vessels crossed the strategic waterway each day, according to Kpler data.

On Sunday, seven vessels transited Hormuz, including three Iranian-linked product tankers leaving the Gulf. The previous day, only three vessels passed through the strait with their tracking systems switched off, including a VLCC heading to Qatar, a liquefied petroleum gas tanker bound for the United Arab Emirates, and a tanker carrying Qatari naphtha to Japan.

The continued disruption across both the Bab el-Mandeb Strait and the Strait of Hormuz underscores mounting risks to global shipping and energy markets as regional tensions remain high.