Shipowners, including Sinokor Group, are helping Saudi crude oil leave the Red Sea via a safer northern route due to Iran-backed militants attacking Saudi export ships in the southern Mander Strait. Since the Houthis in Yemen began attacking ships loading from the Yanbu export terminal in the Red Sea, Saudi Aramco, a Saudi state-owned oil company, has increased crude oil exports from Mediterranean ports such as Sidi Kirill. Over the past month, ships under South Korea's Sinokor, Greece's Dynacom, and Norway's DHT Management AS sailed back and forth between Yanbu and Ain Sokhna. Crude oil was transported north through pipelines after being unloaded in Ain Sokhna.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.