HOUSTON, Texas — Global crude oil and oil products shipments taking the long route between Asia, the Middle East and the West is up 47 percent since attacks began on vessels using the shorter Red Sea route, the Energy Information Administration (EIA) said on Tuesday.
The longer route around the Cape of Good Hope to avoid attacks by Yemen's Houthis has pushed up shipping costs, as about 12 percent of world total shipping traffic historically sailed through the Red Sea and Egypt's Suez Canal.
Already have an active account? Log in here.
Continue reading with one of these options:
Continue reading with one of these options:
Premium + Digital Edition
Ad-free access
P 80 per month
(billed annually at P 960)
- Unlimited ad-free access to website articles
- Limited offer: Subscribe today and get digital edition access for free (accessible with up to 3 devices)
TRY FREE FOR 14 DAYS
See details
See details
If you have an active account, log in
here
.