Global shipping firms continue to avoid Red Sea route after recent attack in area

News Snapshot:

Denmark’s Maersk and German rival Hapag-Lloyd said on Tuesday their container ships would continue to avoid the Red Sea route that gives access to the Suez Canal following a weekend attack on one of Maersk’s vessels. Both shipping giants have been rerouting some sailings via Africa’s southern Cape of Good Hope as Yemen-based Houthi militants attack cargo vessels in the Red Sea. The disruption threatens to drive up delivery costs for goods, raising fears it could trigger a fresh bout of global inflation. Maersk had on Sunday paused all Red Sea sailings for 48 hours following attempts by Yemen-based Houthi...