First South Korean Tanker Rerouted Around Hormuz Arrives at Yeosu Crude Terminal
Summary
- The first South Korean oil tanker to pass through the Red Sea, a detour after the Strait of Hormuz closure caused by the Middle East war, has arrived in Yeosu.
- A South Korean tanker carrying about 2 million barrels of crude from Saudi Arabia’s Yanbu port entered the GS Caltex crude terminal in Yeosu.
- More crude shipments via the Red Sea have followed since the Strait of Hormuz closure, and the Malta-flagged tanker Odessa is due to unload crude at Hyundai Oilbank’s refining facilities.
Forecast Trend Report by Period
First South Korean vessel to transit the Red Sea after Hormuz closure
The first South Korean oil tanker to pass through the Red Sea, a detour after the Strait of Hormuz was closed by the Middle East war, has arrived in Yeosu, South Jeolla Province.
Industry sources said on May 7 that the tanker, carrying about 2 million barrels of crude from Saudi Arabia’s Yanbu port, entered the GS Caltex crude terminal in Yeosu that day after transiting the Red Sea in mid-April.
It is the first known case of a South Korean vessel transporting crude to the country via the Red Sea since the closure of the Strait of Hormuz. Such shipments are continuing, with two tankers transiting the Red Sea so far this month.
The Odessa, a Malta-flagged tanker that passed through after the Strait of Hormuz closure last month, is due to arrive at Daesan port in South Chungcheong Province on May 8. The vessel is slated to unload crude at Hyundai Oilbank’s refining facilities.
Kim Dae-young, Hankyung.com reporter kdy@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
