How Red Sea attacks could affect the seaborne transport of oil, gas cargoes

While an alternative route to Europe through the Cape of Good Hope could increase Qatari voyage days by 145%, or an extra 22 days on a round-trip basis, oil prices have fallen in recent weeks amid mounting demand concerns and growing indications the world will enter 2024 in a supply surplus

Several shipping companies and a few liquefied natural gas (LNG) tankers have decided to avoid the world’s main East-West trade route, following attacks launched by Yemen’s Houthi group on commercial ships at the southern end of the Red Sea.