Maersk Tankers, a major global tanker company, has reportedly provided the option to reroute oil shipments via the Cape of Good Hope due to escalating security issues in the Red Sea. The decision comes in response to recent attacks by Yemen's Houthis on ships, protesting Israel's invasion of Gaza. The security situation poses risks to vessels in the critical Bab al-Mandab Strait, leading some shipping companies to opt for the longer route via the Cape. The ongoing conflict is not only impacting shipping safety but also contributing to increased shipping and insurance costs in the region. Maersk Tankers declined to comment on the matter

SOURCE:GOOGLE