Summary
Read original article →
The Bangladesh Shipping Corporation-operated tanker MT Ninemia abandoned the Red Sea and Bab el-Mandeb routing because of deteriorating regional security and rerouted around the Cape of Good Hope, adding roughly $5.4 million in additional cost to the voyage, according to reporting carried on 31 July 2026. The vessel was carrying about 100,000 tonnes of Saudi Arabian crude bound for Chittagong for use by the Eastern Refinery. The case illustrates how the Cape diversion, which adds thousands of extra tonnes of bunker consumption per voyage, is compounding for importers now that Singapore VLSFO has risen toward $869 a tonne.