The Strategist

FT: British BP announces suspension of oil transportation through the Red Sea



12/19/2023 - 10:01



As tensions in the region continue to rise, British energy giant BP plc. decided to halt tanker shipments of oil products across the Red Sea, the Financial Times writes.



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"BP will suspend all oil shipments through the Red Sea, in another sign of an escalating crisis sparked by Yemeni rebel attacks on ships in the area and threatening a key route for global trade," the newspaper writes.

The French shipping company CMA CGM, the Swiss container carrier Mediterranean Shipping Company (MSC), the German shipping company Hapag-Lloyd, and the Danish shipping company A.P. Moller-Maersk have already announced suspension of container activity on the Red Sea.

The Houthis of Yemen have issued a warning, threatening to strike any ships that are associated with Israel and urging other nations to withdraw their crews and avoid interacting with them at sea. A number of shipping corporations made the decision to stop operating in the area after many of their ships were assaulted in the Red Sea.

source: ft.com