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The four shipping companies that have decided to divert traffic temporarily from the Red Sea are MSC, CMA CGM, Hapag Lloyd, and Maersk. Together these four companies account for 53 percent of global maritime trade.
While there is expectation that global militaries will step in soon and secure the Red Sea and the Suez Canal by the end of the week, a prolonged delay in reusing them may lead to a 30-40 percent rise in cost of transportation
-A number of container ships are anchored in the Red Sea and others have turned off tracking systems as traders adjust routes and prices in response to maritime attacks by Yemen's Iran-aligned...
Several container ships are anchored in the Red Sea and others have turned off tracking systems as traders adjust routes and prices in response to maritime attacks by Yemen's Iran-aligned Houthis on the world's main East-West trade route.
Major shipping companies have suspended operations in the Red Sea amid security concerns after a series of attacks on ships by Houthis