TANKERS REROUTE TO EGYPT AS HOUTHI THREATS DISRUPT RED SEA TRADE

According to Jin10, empty supertankers are heading to Egypt's Mediterranean port of Sidi Kerir to load Saudi crude as Houthi threats disrupt Red Sea trade, while observable vessel traffic at a key Saudi Red Sea export hub is declining. Ship-tracking data show that at least eight very large crude carriers have listed Sidi Kerir as their destination and are due to arrive over the next few weeks through mid-August. After the Iran-backed Houthis attacked a ship in the Red Sea last week, Saudi Aramco has been increasing the volume of oil supplied through the Egyptian port. On Tuesday morning, no tankers were seen docking at Saudi Arabia's Red Sea port of Yanbu, although some vessels may have switched off transponders to load cargoes without being monitored.