The sea route via the Cape of Good Hope in South Africa is not usually the one most used by oil companies to transport their cargoes.

The Cape of Good Hope, at the southernmost tip of South Africa, is increasingly becoming the preferred route for transporting crude oil and petroleum products. This is according to information relayed on Tuesday June 11, citing Vortexa, a company that tracks the flow of goods in real time.

According to data compiled by the company, crude oil and petroleum product cargo movements around the Cape of Good Hope reached 8.7 million b/d between January and May 2024. This represents an increase of around 50% on the average of 5.9 million b/d recorded throughout last year.

This surge in traffic around the Cape of Good Hope is essentially linked to the conflict in the Middle East and attacks by Yemeni Houthi rebels, which have increased the risks of transit through the Suez Canal, the most popular route for transporting oil.

Many commercial ship operators consider the Cape of Good Hope option to be safer than passage through the Bab el-Mandeb Strait and the Red Sea, two transit points close to the coast of Yemen. This despite the disadvantages in terms of time and cost.

Indeed, according to analysts, detouring ships around the Cape of Good Hope is associated with higher costs and longer transport times for goods, which can take twice as long as via the Bab el-Mandeb Strait and the Suez Canal.

Abdel-Latif Boureima