Saudi supertanker backlog off Egyptian coast is growing again

Saudi-owned supertankers are once again starting to cluster off the coast of Egypt, after earlier signs this week that the backlog was clearing-up.

The number of supertankers anchored near the Egyptian port of Ain Sukhna - which sits at the southern end of a pipeline linking the Red Sea to the Mediterranean - grew to eight. At its peak, ten vessels were stationed off Egypt’s coast.

Six of the tankers, holding about 12 million barrels, are Saudi-owned and loaded at the kingdom’s Red Sea port in Yanbu. The earliest tanker to arrive in the group has been floating for 20 days now.

The other two Chinese-owned vessels, also carrying Saudi crude, have been waiting offshore for more than 50 days.