World trade is under threat as major shipping company Maersk has suspended all journeys through the Red Sea following attacks on vessels, claimed by Yemen’s Houthi rebels.
Missile and drone attacks have rained down on ships travelling through the trade artery, through which vessels have access to Africa, the Middle East and beyond, in recent weeks following the conflict between Israel and Hamas.
Yemen’s Hamas-allied Houthi rebels have laid claim to the strikes, stating they have targeted ships heading to Israel in a bid to force a ceasefire between the nation and Palestinian extremists.
The move has not moved peace negotiations, instead persuading Maersk to take a longer route that would take its ships around Africa.
The decision threatens putting a stopper on global trade, with vital goods deliveries taking much longer to reach their intended international destinations.
The Red Sea is one of the world’s most vital oil and gas trade routes, and Maersk has specifically warned its vessels against travelling down the Bab al-Mandab strait.
The strait joins the Mediterranean sea and Indian Ocean, and facilitates up to nine percent of the world’s total seaborne-traded oil and refined products transits.
In a statement to the BBC, a Maersk representative said the company had asked its vessels to pause their journeys “until further notice”.
They said: “The recent attacks on commercial vessels in the area are alarming and pose a significant threat to the safety and security of seafarers.”
“Following the near-miss incident involving Maersk Gibraltar yesterday and yet another attack on a container vessel today, we have instructed all Maersk vessels in the area bound to pass through the Bab al-Mandab Strait to pause their journey until further notice.”
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