Azerbaijani SOCAR sent a shipment of oil bypassing the Red Sea – Kommersant

Azerbaijan’s state oil company SOCAR sent a shipment of Azeri BTC oil to Thailand, bypassing the Red Sea, Reuters reported, citing data from LSEG, Kpler and traders.

The Tilos I, according to them, is carrying about 1 million barrels of Azeri BTC oil, bypassing the Cape of Good Hope in Africa, rather than through the Suez Canal and the Red Sea. On January 22, the ship, operated by the Greek company Dynacom, departed from the Turkish port of Ceyhan. The cargo is expected to arrive at the Thai port of Sri Racha on March 8. As the agency notes, attacks by the Yemeni Houthis in the Red Sea have led to shipping companies avoiding routes through the Suez Canal and the Red Sea. This leads to higher prices for cargo transportation.

After the outbreak of war between Israel and the Palestinian Hamas movement, the Yemeni Houthis declared support for the movement. They have launched attacks on ships in the Red Sea that the Houthis believe are associated with Israel. Due to the attacks, the Kuwaiti oil and petroleum product carrier Kuwait Oil Tanker is temporarily refused from routes through the Suez Canal. At the end of December, logistics companies reportedthat they redirected cargo worth $35 billion around the Red Sea.

Reuters reported an erroneous attack by Yemen’s Houthis on a Panama-flagged tanker that was carrying Russian oil, citing the British company Ambrey. Russian Foreign Ministry spokeswoman Maria Zakharova said that the Russian Federation has no information about the shelling. Bloomberg nevertheless wrotethat Russian tankers have also begun to avoid the Suez Canal.

Read more about the cargo transportation market in the material “It was not the TEU that was attacked”.

Alexandra Goroshilova