Diversions around the Cape of Good Hope can lengthen tanker voyages to Europe by up to three weeks, leading to higher freight costs and potentially supply disruption.
But while some charterers, including BP (BP.L) have diverted vessels in the wake of attacks by Yemen's Houthis, others continue to use the shorter Red Sea route via the Suez Canal.
Tankers began avoiding the Red Sea after Yemen’s Houthis stepped up maritime attacks against Zionist or Zionist-linked vessels in response to the unprecedented aggression taking place in the Gaza Strip by the Tel Aviv regime.
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