Maersk to resume shipping in the Red Sea

Hong Kong, December 25 : Shipping giant Maersk will resume operations in the Red Sea after temporarily halting activity due to attacks by Iran-backed Houthi rebels on commercial vessels, CNN reported.
The Danish company announced Sunday that it would resume shipments in the Red Sea and Gulf of Aden following the establishment of a new US-led security operation to safeguard the area, CNN reported.
Operation Prosperity Guardian will once again allow shipping vessels to pass through the area, Maersk said in a statement, in what it called "most welcome news for the entire industry and indeed the functionality of global trade,"CNN reported.
The establishment of a new US-led security operation named Operation Prosperity Guardian. This multinational security initiative involves the United Kingdom, Bahrain, Canada, France, Italy, the Netherlands, Norway, Seychelles, and Spain.
The move comes after several major companies, including BP, suspended operations in the Red Sea, avoiding the Suez Canal, following Houthi attacks on commercial ships. The attacks were reportedly in retaliation against Israel's military campaign in Gaza.
About 10 pc to 15 pc of global trade, including 30 pc of container trade, passes through the Suez Canal, connecting the Red Sea to the Mediterranean Sea. Concerns arose as some ships were rerouted around the southern tip of Africa, potentially increasing freight costs and delivery times.
Maersk had redirected its vessels away from the Red Sea earlier and introduced new charges for transporting goods along longer routes due to the disruptions. The company emphasized the safety of its employees as the top priority during the challenging situation, noting that while security measures were being enhanced, the overall risk in the area was not completely eliminated at this stage. Maersk is preparing its first vessels to resume transit through the Red Sea "as soon as operationally possible."