TRADE SOURCES and analysts say Saudi Arabia’s shift of crude exports from Red Sea ports toward the Strait of Hormuz, alongside higher exports from other producers, has pushed ship‑to‑ship (STS) transfer activity in the Gulf of Oman close to capacity. They say increased Saudi loadings this month require more VLCCs transiting Hormuz and conducting STS transfers, reducing available tonnage, lifting freight rates and lengthening time crude spends at sea.

2026-09-25

TRADE SOURCES and analysts say Saudi Arabia’s shift of crude exports from Red Sea ports toward the Strait of Hormuz, alongside higher exports from other producers, has pushed ship‑to‑ship (STS) transfer activity in the Gulf of Oman close to capacity. They say increased Saudi loadings this month require more VLCCs transiting Hormuz and conducting STS transfers, reducing available tonnage, lifting freight rates and lengthening time crude spends at sea.