Korean crude oil tanker passes through Red Sea for first time since Hormuz closure

[Financial News] A Korean crude oil tanker has sailed through the Red Sea, which is being used as a detour around the Strait of Hormuz. This is the first passage by a Korean vessel since the Strait of Hormuz was closed due to the war between the United States and Iran. The government has pledged to support the protection of ships and crew and to ensure the safe transport of crude oil.
The Ministry of Oceans and Fisheries (MOF) announced that on the 17th, a Korean tanker loaded with crude oil at Yanbu Port in the Kingdom of Saudi Arabia safely exited the Red Sea.
At recent meetings of the State Council of South Korea and the Emergency Economic Review Meeting, using the Red Sea as a detour route around the Strait of Hormuz was discussed as one option to secure crude oil supplies. The idea is to monitor the safety of Korean vessels while using the Red Sea as an alternative to the Strait of Hormuz. Since then, MOF has worked with the Ministry of Trade, Industry and Energy (MOTIE) and industry stakeholders to push ahead with plans to use the Red Sea as a bypass route.
The government has decided not to disclose the vessel’s name, arrival time, or port of call. This measure is intended to protect the safety of the ship and its crew and to support future passages through the Red Sea.
Hwang Jong-woo, Minister of Oceans and Fisheries, stated, "We will continue to do our utmost to ensure there are no disruptions to domestic crude oil transport by Korean vessels from the Middle East, working closely with relevant agencies and industry while prioritizing the safety of our ships and seafarers."
jhyuk@fnnews.com Kim Jun-hyuk Reporter