Red Sea

As shippers navigate goods around low water levels in the Panama Canal and risks in the Red Sea, rates are rising and the risk of downstream disruptions is growing.

Due to the ongoing violence in the Red Sea region and continued attacks on global shipping, global ocean container line service provider A.P. Moller-Maersk said this week it would pause all vessels bound for the Red Sea/Gulf of Aden, due to the recent incident pertaining to the Maersk Hangzhou and related issued in that region.

Companies have placed a pause on activity as Houthi rebels continue to target commercial ships.

Two global shipping giants, A.P. Moller-Maersk and Hapag-Lloyd, announced on Friday that they are pausing shipping in the Red Sea following continued attacks on commercial ships in the region.