Saudi Arabia to Prioritize Oil to South Korea Through Red Sea Ports
Here is some good news for South Korea that should improve their oil situation:
Industry Minister Kim Jung-kwan said Sunday that Saudi Arabia has promised to prioritize oil shipments to South Korea as Seoul seeks an alternative route through the Red Sea.
Authorities in Seoul are pushing to dispatch five Korean-flagged vessels to the Saudi port city of Yanbu on the Red Sea coast to help establish alternative supply routes as the Strait of Hormuz has been effectively shut down amid the Middle East conflict.
“We are preparing measures to allow our vessels to use the Red Sea route, including the possibility of escort operations by the Cheonghae unit’s Dae Joyoung destroyer,” Kim said during a radio interview.
Kim emphasized that Saudi authorities have pledged to allocate shipments to South Korea on a priority basis.
You can read more at the link.
