Proactive Investors - Danish shipping company Maersk (LON:0O77) has announced its decision to resume shipping through the Red Sea, following the launch of military operations to protect the ships from Houthi attacks.
The Red Sea is one of the most important sea routes for transporting oil, natural gas, and consumer goods, bordered by the Yemen coast and the Suez Canal.
Since the beginning of the Hamas-Israel war, Houthi rebels in Yemen started attacking the route, using rockets and drones.
This has prompted many shipping companies, including Mediterranean Shipping Company, Hapag-Lloyd, and Maersk, to take an alternative route around the Cape of Good Hope.
In a bid to protect the ships, the US launched an international naval operation called Operation Prosperity Guardian.
On Wednesday, US military said that it had shot down more than 12 drone missiles launched by Houthis.
Maersk stated that it is working on plans for the first vessels to make the transit while Hapag-Lloyd said that it would reassess the Red Sea situation before making any final decisions.