Saudi Arabia diverts oil shipments north via Sinokor tankers to bypass Houthi attacks

Saudi Aramco has significantly rerouted its crude oil exports to avoid Houthi attacks in the Red Sea, increasing shipments through the northern route via Ain Sukhna. Since the Houthis announced a blockade on July 20, Saudi crude exports through the northern Red Sea have surged by about one-third to approximately 1.1 million barrels per day. Tankers operated by companies including South Korea’s Sinokor Group, Greece’s Dynacom, and Norway’s DHT Management AS have been shuttling cargoes from Yanbu on the Red Sea to Ain Sukhna, where the oil is discharged and transported via pipeline to the Mediterranean Sea. From there, shipments continue to Asian markets, adding weeks to delivery times compared to direct routes. The shift mirrors a similar strategy used by the United Arab Emirates to move oil through the Strait of Hormuz. According to ship-tracking data compiled by Bloomberg, at least four tankers have completed the Yanbu-to-Ain Sukhna route multiple times, transferring roughly 16.3 million barrels. Analysts note that higher-risk-tolerant tanker operators are facilitating these movements, allowing Saudi Aramco to maintain stable crude supplies and meet customer demand at Mediterranean ports like Sidi Kerir instead of Yanbu. The rerouting underscores the ongoing disruptions to global oil flows caused by regional conflicts and the strategic adjustments made by major producers to ensure market stability.