Azerbaijan’s state oil company SOCAR is shipping Azeri BTC oil to Thailand via Africa’s Cape of Good Hope to avoid the Red Sea, according to LSEG and Kpler data and traders.

Attacks by Yemen-based Houthi forces on shipping in the Red Sea and Gulf of Aden are driving up freight costs and disrupting global trade.
The Tilos I is carrying some one million barrels of Azeri BTC crude oil which was loaded at Turkey’s Ceyhan port on January 22, according to LSEG and Kpler consultancy data.

The cargo is expected to offload in Sri Racha, Thailand, on March 8, the data showed.

The manager of the cargo is Greek shipping company Dynacom, according to LSEG data.

SOCAR and Dynacom did not replay to Reuters’ requests for comment.
Source: Reuters (Reporting by Reuters; editing by Jason Neely)