Maersk reroutes Red Sea container ships back to Suez Canal

News Snapshot:

Denmark’s Maersk said on Thursday it has rerouted four out of five container vessels that were stuck in the Red Sea back towards the Suez Canal and the long journey around Africa to avoid the risk of attack. Yemen-based Houthi militants recently attacked a number of vessels in the southern Red Sea, including a Maersk ship on Saturday, disrupting global trade and raising fears of a fresh bout of global inflation as shipping rates soared. The United States on Dec. 19 launched a multinational operation to safeguard commerce in the Red Sea, but many shipping companies and cargo owners are...