News | Commodity | Persian Gulf
Six Saudi tankers reroute around the Cape of Good Hope as Taiwan to Yanbu voyage stretches from 24 to 56 days
3 August 2026 | 3 months ago
According to a report published on Monday, August 3, 2026, satellite imagery and maritime tracking data show that at least six Saudi-flagged tankers have diverted away from the Bab el-Mandeb strait and around the Cape of Good Hope in southern Africa to avoid attacks on shipping.
After the closure of the Strait of Hormuz, Saudi Arabia had routed most of its oil exports through the East-West pipeline to the Red Sea port of Yanbu, which had effectively become the country's main remaining export outlet.
Maritime intelligence firm Windward reported that the rerouting carries a heavy cost: the voyage from Taiwan to Yanbu has stretched from 24 days to more than 56 days, and the cost per transit has risen by between 2 and 2.5 million dollars. A maritime analytics firm said Saudi crude export flows are set to fall further in the coming weeks unless the disruption at Bab el-Mandeb ends.
More from this market
First online electricity purchase on Iran Energy Exchange covers 37 million kilowatt hours worth 126 billion rials
Mehr News Agency, citing the Ministry of Power | 3 months ago790 kilograms of silver bullion worth 311.8 billion tomans traded in the Iran Mercantile Exchange certificate market
Kalakhabar (Iran Mercantile Exchange) | 3 months agoThe IRGC says it intercepted and hit a US MQ-9 drone over the Strait of Hormuz
Khabar Online, citing IRGC public relations | 3 months agoPrecious metals recover as oil slides, with gold above $4,050 and silver above $58
Iran Capital Market News Agency (SENA) | 3 months ago
