Maersk Announces Resumption of Shipping Operations in the Red Sea

Maersk, the world's leading shipping company, will resume its operations in the Red Sea after halting activity due to attacks by Iran-backed Houthi rebels on commercial ships. The Danish company confirmed on Sunday that it will be restarting shipments in the Red Sea and Gulf of Aden, thanks to a new security operation led by the US to protect the area.

Maersk stated that the resumption of shipping vessel passage through the area, under Operation Prosperity Guardian, is "greatly welcomed by the entire industry and is crucial for global trade." The multinational security operation involves the United Kingdom, Bahrain, Canada, France, Italy, the Netherlands, Norway, Seychelles, and Spain.

Some of the largest corporations globally, such as the oil behemoth BP, have announced the temporary halt of their activities in the Red Sea, as well as the avoidance of the vital Suez Canal. This decision comes in response to the attacks on commercial vessels by the Houthis, who claim that these actions are in retaliation against Israel's military offensive on Hamas in Gaza.

The Maersk Sentosa container ship sails southbound to exit the Suez Canal in Suez, Egypt, on December 21, 2023.

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Shipping expenses are increasing due to the longer routes vessels must take as a result of the recent attacks in the Red Sea. Approximately 10% to 15% of global trade and 30% of container trade is impacted by the disruption in the waterway that connects the Red Sea to the Mediterranean Sea.

Several ships were being redirected around the southern tip of Africa, sparking worries that extended closure of the Suez Canal would lead to higher shipping expenses and longer delivery times. Maersk had already rerouted its ships from the Red Sea and implemented additional fees for transporting goods along alternative, longer routes due to the canal's disruption.

The company announced on Sunday that it is getting ready to have its first ships travel through the Red Sea again as soon as it is feasible. The safety of its employees is a top priority as it navigates this difficult situation.

While security measures are being increased, it is important to note that the overall risk in the area has not been completely eradicated at this time. Maersk is committed to constantly reassessing the situation and implementing alternative plans if needed to ensure the safety of our crew. Further information on the updated arrangements will be communicated in the near future.