We know what’s coming and we are prepared.
Dec 18 (Reuters) – Iranian-backed Houthi militants in Yemen have stepped up attacks on vessels in the Red Sea to show their support for Palestinian Islamist group Hamas fighting Israel in Gaza.
The attacks, targeting a route that allows East-West trade, especially of oil, to use the Suez Canal to save the time and expense of circumnavigating Africa, have pushed some shipping companies to re-route vessels to avoid the area.
Below are companies (in alphabetical order) that are considering or have decided to pause shipping via the Red Sea:
BP
Oil major BP on Dec. 18 said it had temporarily paused all transits through the Red Sea.
CMA CGM
French shipping group CMA CGM on Dec. 16 said it was pausing all container shipments through the Red Sea.
EQUINOR
Norwegian oil and gas firm Equinor on Dec. 18 said it had re-routed some vessels that had been heading towards the Red Sea.
EURONAV
Belgian oil tanker firm Euronav said on Dec. 18 it would avoid the Red Sea area until further notice.
EVERGREEN
Taiwanese container shipping line Evergreen said on Dec. 18 its vessels on regional services to Red Sea ports would sail to safe waters nearby and wait for further notification, while ships scheduled to pass through the Red Sea would be re-routed around the Cape of Good Hope. It also temporarily stopped accepting Israeli cargo.
FRONTLINE
Norway-based oil tanker group Frontline said on Dec. 18 that its vessels will avoid passages through the Red Sea and the Gulf of Aden in the time ahead, boosting the rates customers must pay for crude transport.
HAPAG-LLOYD
German container shipping line Hapag Lloyd said on Dec. 18 it would re-route several ships via the Cape of Good Hope until the safety of passage through the Suez Canal and the Red Sea could be guaranteed.
A projectile believed to be a drone struck its vessel Al Jasrah on Dec. 15, while sailing close to the coast of Yemen. No crew were injured.
MAERSK
Denmark’s A.P. Moller-Maersk on Dec. 15 said it would pause all container shipments through the Red Sea until further notice, following a “near-miss incident” involving its vessel Maersk Gibraltar a day earlier.
The ship was targeted by a missile while traveling from Salalah, Oman, to Jeddah, Saudi Arabia, the company said.
MSC
Mediterranean Shipping Company (MSC) said on Dec. 16 its ships would not transit through the Suez Canal, with some already rerouted via the Cape of Good Hope, a day after Houthi forces fired two ballistic missiles at its MSC Palatium III vessel. The decision will disrupt sailing schedules by several days, the Switzerland-based group said.
OOCL
Orient Overseas Container Line (OOCL) has stopped cargo acceptance to and from Israel until further notice, theshipping company owned by Hong Kong-based Oriental Overseas (International) Ltd 0316.HK said on Dec. 16.
YANG MING MARINE TRANSPORT
Taiwan’s Yang Ming Marine Transport said on Dec. 18 it would divert ships sailing through the Red Sea and the Gulf of Aden via the Cape of Good Hope for the next two weeks.
(Reporting by Paolo Laudani, Izabela Niemiec and Jesus Calero in Gdansk; editing by Milla Nissi and Jason Neely)
🇺🇸 #Oklahoma high school principal (Kirk Moore) seen charging at and disarming a school shooter.
The suspect, identified as 20-year-old Victor Hawkins, was a former student who said he wanted to shoot up the school “like the Columbine shooters did.” While taking down the shooter, Moore was shot in the leg. He is expected to recover.
When the Principal woke up that day, he never thought he would be tackling a gunman.
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🇨🇳🛢 How much strategic oil does the world actually have in reserve?
Global strategic crude oil inventories stood at ~2.5 BILLION barrels as of December 2025, according to the US Energy Information Administration.
China holds by far the largest stockpile at 1,397 million barrels, more than 3 times the US Strategic Petroleum Reserve of 413 million barrels, which itself sits at only 58% of its full storage capacity of 714 million barrels.
China added an average of 1.1 million barrels per day to its strategic inventories throughout 2025, with preliminary data suggesting it continued building stockpiles in early 2026 ahead of the Iran War.
Japan holds the 3rd-largest reserve at 263 million barrels, followed by OECD European countries at 179 million barrels.
Meanwhile, the US is releasing 172 million barrels from its Strategic Petroleum Reserve to suppress oil prices, part of a broader 400 million barrel coordinated release agreed by 32 IEA member nations in March.
🔗 ...
🛢 JP Morgan Warns Oil Market Out of Balance, Prices Must Rise
🔸The closure of the Strait of Hormuz, through which roughly 20% of the world’s oil flows, has removed 13.7 million barrels per day from global supply in April alone. A JP Morgan research note warns the market has no good way to replace it.
🔸Normally, spare production capacity in Saudi Arabia and the UAE acts as the market’s shock absorber. But that buffer has effectively been removed, eliminating the system’s first line of defense.
🔸With spare capacity unavailable, markets turned to inventories
➤ Global stockpiles are now being drained at ~7.1 mbd in April, an extraordinary pace, according to the note.
🔸Meanwhile, demand is collapsing because supply simply isn’t reaching users — “forced demand destruction.”The hardest hit sectors include:
▪️ Petrochemical plants across Asia are shutting down or slashing output as LPG, ethane, and naphtha flows from the Gulf collapse
▪️ Airline jet fuel ...
🛢⛽️ Global oil inventories are heading toward RECORD LOWS:
Global visible oil inventories have fallen -255 million barrels since the start of the conflict on February 27, to 7,864 million barrels.
Total estimated oil draws, including non-OECD refined products storage, have accelerated to 10.9 million barrels per day in April, the largest monthly draws on record since 2017.
Cumulative estimated draws since the start of the war now stand at 474 million barrels, with Hormuz flows holding at ~10% of normal, or 2.0 million barrels per day.
Meanwhile, even in an optimistic scenario where Strait of Hormuz flows begin recovering by late April, it is unlikely to prevent global visible inventories from reaching all-time lows, according to Goldman Sachs.
As inventories keep falling, physical oil markets are likely to require sharply higher prices for immediate delivery, since buyers cannot wait months for cheaper futures delivery when stocks are running critically low.
Goldman also warns...
