As Iran declared the reclosure of the Strait of Hormuz, Korea is currently importing crude oil via an alternative route through the Red Sea.
The Ministry of Oceans and Fisheries said that as of 4 p.m. on the 12th, one Korean ship safely passed through the Red Sea and is transporting crude oil to Korea. It is the thirteenth Korean-flagged tanker to pass through the alternative Red Sea route.
The vessel loaded crude oil at the port of Yanbu in Saudi Arabia and exited the Red Sea.
Since the Strait of Hormuz was closed due to the U.S.-Iran Middle East war, the government has been bringing crude oil into Korea via the Red Sea as an alternative route.
Although the two countries agreed to a cease-fire on the 19th of last month, uncertainties such as disputes over Strait of Hormuz transit fees remain, so the government's position is to continue bringing Middle Eastern crude through the Red Sea for the time being.
At a press briefing on the 2nd, Vice Minister Nam Jae-heon said, "With negotiations between the United States and Iran fluid, there is significant uncertainty for operations in the Strait of Hormuz," adding, "While considering the importance of energy transport, we will continue to encourage shippers to refrain from entering the area until the situation stabilizes. In an unstable situation, we are reviewing prioritizing the use of the port of Yanbu for transporting Middle Eastern crude."