Red Sea Ship Detours Boost Fuel Consumption by 500,000 Bpd

Tankers and container ships that have been avoiding the Red Sea route are set to burn additional 500,000 barrels per day (bpd) of fuel oil this year due to the longer alternative route via the Cape of Good Hope in Africa, commodity trading giant Trafigura has estimated. Since the end of 2023, many ship owners and vessel charterers have opted to use the longer route via Africa to avoid passing through the Red Sea, where the Iran-aligned Houthis have targeted Western and Israeli-flagged or owned vessels.   Tensions in the region have been…