Shipping giant Maersk to divert vessels away from the Red Sea ‘for the foreseeable future’
Publishing timestamp: 2024-01-05 09:26:53
Summary
Maersk, a Danish shipping giant, has announced that it will extend the diversion of its vessels from the Red Sea due to safety concerns caused by attacks from Houthi militants. This diversion means taking a longer route around southern Africa instead of the quickest path through the Suez Canal. Other European firms have warned of delays in their supply chains due to this disruption. Despite the challenges, investors see shipping companies like Maersk benefiting from reduced capacity in the market. German shipping firm Hapag-Lloyd has also announced that it will continue to divert vessels away from the Red Sea.
Sentiment: MIXED
Tickers: HLAG-DE, NXT.L, DP4A-FF, DP4B-DE,
Keywords: markets, business news, hapag lloyd ag, transportation, economy, breaking news: markets, trade, breaking news: business, ap moeller - maersk a/s, breaking news: economy,