Red Sea vs Arabian Gulf: Comparing the Fixing Activity Behind the Barrels in International Shipping News 10/06/2026 O ver the spring of 2026, we logged 354 reported tanker fixtures across two of the Middle East’s principal crude gateways and set them side by side to compare how each region’s fixing activity behaves: Yanbu on Saudi Arabia’s Red Sea coast and the wider Arabian Gulf (AG) complex stretching from Fujairah and the UAE to Oman. The aim is to look past the raw fixture count to a more useful question: how the two regions’ fixture volumes compare by barrel, by ship size, and by terminal, and to do so against the backdrop of an unusually disrupted quarter. Three observations emerge from the data. First, while fixture activity appears broadly balanced at a headline level, the underlying trade dynamics differ considerably. The Arabian Gulf generated more fixtures (198 versus Yanbu’s 156), yet Yanbu accounted for a larger share of crude volumes, loading 29.1 million barrels compared with 26.6 million barrels from the Gulf. This reflects a stronger concentration of large-parcel exports and greater utilisation of VLCC tonnage at the Red Sea terminal. Third, among Gulf load ports, the spot market now runs through Fujairah, while Ras Tanura, normally a Saudi mainstay, barely appears — a pattern that closely tracks the events of early March. Activity vs. Volume – More Ships in the Gulf, More Barrels from Yanbu At first glance, the Gulf looks busier, and on a pure fixture count, it is. But counting ships flatters the picture. When we follow the barrels rather than the bookings, Yanbu pulls ahead — its mix is weighted toward 270,000-barrel crude liftings, whereas the Gulf carries a longer tail of smaller clean and product parcels that lift the fixture tally without moving comparable volume. The result is a neat inversion: fewer fixtures at Yanbu, but more oil on the water. Monthly fixture trends reinforce the contrast. Yanbu maintained relatively stable activity through