Oil giant BP has announced it is pausing all shipments of oil through the Red Sea after recent attacks on vessels by Houthi rebels.
It made the decision because of the “deteriorating security situation” though said it was a temporary move. A number of freight companies have also suspended their ships after being targeted by Houthis in Yemen.
On Monday, one of the world's largest shipping firms said it would no longer carry Israeli cargo via the Red Sea. In an update seen by the BBC, Evergreen Line said that it would instruct its container ships to suspend journeys “until further notice”.
The Red Sea is one the world's most important routes for oil and fuel shipments, as well as for consumer goods.
Iran-backed Houthi rebels are targeting ships travelling through the Bab al-Mandab Strait – also known as the Gate of Tears – which is a channel 20 miles (32km) wide, and known for being perilous to navigate.
The rebels have declared their support for Hamas and have said they are targeting ships travelling to Israel, using drones and rockets against foreign-owned vessels. However, it is not clear if all the ships it has attacked were actually heading to Israel.
BP said: “The safety and security of our people and those working on our behalf is BP's priority.
“In light of the deteriorating security situation for shipping in the Red Sea, BP has decided to temporarily pause all transits through the Red Sea. We will keep this precautionary pause under ongoing review, subject to circumstances as they evolve in the region.”
Maersk, the world's second-biggest shipping firm, described the situation as “alarming” on Friday after a “near-miss” incident involving Maersk Gibraltar and another attack on a container ship.
It was followed by Mediterranean Shipping Company (MSC), the world's largest shipping group, which said it would also divert its ships from the area.
Its container ship MSC PALATIUM III was attacked on Friday as it was transiting the Red Sea. There were no injuries to the crew, but the ship had been taken out of service.
Hapag-Lloyd and CMA-CGM have also stopped shipments through the region. Hapag-Lloyd is holding a crisis meeting on Monday to decide whether to restart travel.
Evergreen Line said that any of their containerships on longer journeys between Asia and the Mediterranean, Europe or the east coast of the US will instead be re-routed around the Cape of Good Hope.
Instead of using the Bab al-Mandab Strait, this meant that ships must take this much longer route navigating around southern Africa. The firm said it had made the decision in order to protect the safety of its ships and crew, and that it would evaluate developments in the region on an ongoing basis.
— CutC by bbc.com
