Attacks on commercial ships in the Red Sea risk pushing up the price of oil and other goods, analysts have warned.
Several firms have paused shipments through the route after vessels were attacked by Houthi rebels in Yemen.
The world’s second largest shipping line, Maersk, said on Tuesday that it would reroute some of its vessels around Africa’s Cape of Good Hope.
The world’s second largest shipping line, Maersk, said on Tuesday that it would reroute some of its vessels around Africa’s Cape of Good Hope.
Countries joining the security group include the UK, Canada, France, Bahrain, Norway and Spain.
US defence secretary Lloyd Austin held a virtual meeting with ministers from more than 40 countries on Tuesday, and called on more nations to contribute to efforts to keep shipping safe in the Red Sea.
“These reckless Houthi attacks are a serious international problem and they demand a firm international response,” he said.
The Red Sea is one of the world’s most important routes for oil and liquefied natural gas shipments, as well as for consumer goods.
It is bookended by the Bab al-Mandab Strait – also known as the Gate of Tears – in the south near the coast of Yemen and the Suez Canal in the north.
Attacks on commercial ships in the Red Sea risk pushing up the price of oil and other goods, analysts have warned.
The world’s second largest shipping line, Maersk, said on Tuesday that it would reroute some of its vessels around Africa’s Cape of Good Hope.
Several firms have paused shipments through the route after vessels were attacked by Houthi rebels in Yemen.
Countries joining the security group include the UK, Canada, France, Bahrain, Norway and Spain.
The world’s second largest shipping line, Maersk, said on Tuesday that it would reroute some of its vessels around Africa’s Cape of Good Hope.
The world’s second largest shipping line, Maersk, said on Tuesday that it would reroute some of its vessels around Africa’s Cape of Good Hope.
Countries joining the security group include the UK, Canada, France, Bahrain, Norway and Spain.
US defence secretary Lloyd Austin held a virtual meeting with ministers from more than 40 countries on Tuesday, and called on more nations to contribute to efforts to keep shipping safe in the Red Sea.
“These reckless Houthi attacks are a serious international problem and they demand a firm international response,” he said.
The Red Sea is one of the world’s most important routes for oil and liquefied natural gas shipments, as well as for consumer goods.
It is bookended by the Bab al-Mandab Strait – also known as the Gate of Tears – in the south near the coast of Yemen and the Suez Canal in the north.
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