Container shipping giant A.P. Moller-Maersk said it would once again stop its ships from transiting the Red Sea, a key trade route. This comes after the company's ships were attacked again in just a few weeks. "We have decided to suspend all vessel transits through the Red Sea/Gulf of Aden until further notice," Copenhagen-based Maersk said in a website announcement. Previously, the company had said it would only suspend sailings for two days to assess the situation.
Maersk's decision on Tuesday means the world's two largest container shipping lines have extended their suspensions. All ships hoping to shorten their journey between Europe and Asia through Egypt's Suez Canal need to transit the Red Sea.
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As the world's second largest container ship owner, Maersk will reroute southern Africa to provide the best service to customers. Germany's Hapag-Lloyd earlier said it would also continue to avoid the Red Sea. Shares of both companies jumped on speculation that shipping costs would rise due to longer transit times.
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