Red Sea insecurity is reshaping global shipping, raising transport costs and strengthening tanker markets more than energy prices

Oil tankers carrying Saudi and Russian cargo are increasingly bypassing the Red Sea and Suez Canal due to renewed security threats, opting for the longer route around Africa

Each year, approximately 12 to 15 percent of global maritime trade worth more than $1 trillion transits the waterway, which extends from the Suez Canal in the north to the Bab…