Tankers

The tanker vessel class most impacted by the Red Sea diversions is suezmax, likely leading to a spike in earnings. However, if the Red Sea crisis is prolonged charterers may well look to parcel two suezmax cargoes onto one VLCC.

Diverting via the cape adds about 4,900 nautical miles to the voyage and over two weeks in voyage length. This increases tonne-miles for a single voyage by around 70%, according to Vortexa.

Using 2023 data, Vortexa has projected the impact to this vesse...