BP, one of the world’s leading energy companies, has joined the growing number of firms halting travel through the Suez Canal following a series of attacks on vessels by Houthi militants from Yemen. With the safety of their workers being their utmost priority, BP released a statement on Monday announcing a temporary pause on all transits through the Red Sea.
Citing the worsening security situation for shipping in the area, BP stated, “We will keep this precautionary pause under ongoing review, subject to circumstances as they evolve in the region.” This decision aligns with the recent actions taken by shipping giants such as MSC, Hapag-Lloyd, CMA CGM, and Maersk, who have also suspended travel through the Red Sea due to the growing threat of drone attacks.
The significance of this development lies in the fact that it disrupts the key link between Europe and Asia, which passes through the Middle East and North Africa. The suspension of travel through the Suez Canal has raised concerns among analysts, who predict a substantial impact on global supply chains.
Source (CNBC)
