Two of the world's largest shipping companies, AP Moeller Maersk and Hapag-Lloyd, have suspended their operations in the Red Sea following missile attacks by Yemeni Houthi rebels. The attacks, targeting commercial vessels, have escalated amid the Israel-Gaza conflict. Maersk, the world's largest shipping company, announced an indefinite suspension, expressing deep concern for the safety of seafarers. Hapag-Lloyd also halted operations until December 18 after an attack on one of its ships. The suspensions pose a risk to global trade, especially in the critical Bab Al Mandeb strait, impacting oil and LNG shipments. The situation raises concerns about potential disruptions and increased shipping costs, urging international cooperation for a swift resolution.

SOURCE:GOOGLE