It's not like they're sailing through the Red Sea to poke Houthis for fun, it's a business calculation. On average, Asia-Europe freight takes 30-45 days one way, while sailing the Red Sea-Suez route, add to it time spent at ports, and the round voyage can last around 3 months. Now when a ship sails around Africa it takes another 7-10 days of sailing (one way), plus a few more days to make port in RSA to refuel and the round voyage can take 4 months. This extra month (give or take) spent at sea is completely lost, the ship can only make 3 (or even less) round way trips in a year instead of 4. Major global companies have extra capacity to make up for it, but smaller players don't.You have to wonder about the risk-benefit calculus here, especially since these tankers are not likely to have the proper insurance coverage to attempt that crossing...
Last edited: