• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick Maersk halts Red Sea shipping until further notice after Houthi militant attack
Editor's Pick

Maersk halts Red Sea shipping until further notice after Houthi militant attack

by January 4, 2024
by January 4, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Maersk will pause all shipping through the Red Sea and Gulf of Aden until further notice after one of its vessels came under attack from militants over the weekend, the company announced Tuesday.

The decision by the Danish shipping giant extends a 48-hour pause implemented on Sunday in the immediate aftermath of the attack.

“We have made the decision to pause all transits through the Red Sea / Gulf of Aden until further notice,” the company said in an update to customers.

Oil prices were volatile Tuesday, jumping more than 2% earlier in the day on Red Sea tensions but later giving up those gains. U.S. crude was last down 82 cents, or 1.14%, to trade at $70.83 a barrel. Brent lost 68 cents, or 0.88%, to trade at $76.36 a barrel.

Helima Croft, head of global commodity strategy at RBC Capital Markets, said oil prices do not reflect the increase in tensions because traders are not convinced that a major supply disruption is on the horizon.

“The market is basically saying ‘we will wait and see until something happens,’” Croft told CNBC on Tuesday. “But it’s really getting much more serious every day,” she said of tensions in the region.

The container ship Maersk Hangzhou came under attack over the weekend by four small boats crewed by Houthi militants, who are based in Yemen and backed by Iran.

U.S. Navy helicopters responded to a distress call from the Maersk Hangzhou and fired on the militants after coming under attack, sinking three boats and killing the crews, according to the U.S. Central Command.

“An investigation into the incident is ongoing and we will continue to pause all cargo movement through the area while we further assess the constantly evolving situation,” Maersk said in its Tuesday update.

Vessels will be rerouted and continue their journey around the Cape of Good Hope in Africa in cases where this makes sense, the company said.

Houthi militants have repeatedly attacked vessels in the Red Sea in recent weeks in response to the war in Gaza. The attacks have raised concern about disruptions to global trade through the crucial waterway.

Some 12% of global trade and about 3 million barrels of crude oil pass through the Red Sea per day, according to RBC Capital Markets.

This post appeared first on NBC NEWS
You Might Also Like
  • New Starbucks CEO Brian Niccol commits to working with union as talks move forward
  • Apple boosts U.S. investment plans with $500 billion pledge amid Trump tariff threat
  • Kroger and Albertsons are spending billions to reward shareholders after their blocked merger
  • Nissan issues ‘do not drive’ warning for 84,000 older-model vehicles over Takata air bags
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Sprouts Farmers Market: A Hidden Gem on the Corner of Wall and Main Street?
next post
January: NASDAQ Has the Best Odds of Gains, BUT…

You may also like

Regulators caught Wells Fargo, other banks in probe over mortgage...

December 13, 2023

Boeing’s new outsider CEO Ortberg takes the helm, this time...

August 9, 2024

Car insurance rates are nuts right now. Here’s how to...

April 23, 2024

Last tot standing: Buybuy Baby likely to survive as Bed...

June 6, 2023

JPMorgan Chase CEO Jamie Dimon says DOGE ‘needs to be...

February 25, 2025

Ex-CEO of firm that merged with Trump Media accused of...

July 18, 2024

How thousands of Americans got caught in fintech’s false promise

July 3, 2024

Red Lobster closing at least 99 locations as its future...

May 15, 2024

Target unveils new items costing $10 or less — and...

February 19, 2024

Grand Canyon University, largest for-profit college, fined $37.7 million

November 1, 2023

Regulators caught Wells Fargo, other banks in probe over mortgage...

December 13, 2023

Boeing’s new outsider CEO Ortberg takes the helm, this time...

August 9, 2024

Car insurance rates are nuts right now. Here’s how to...

April 23, 2024

Last tot standing: Buybuy Baby likely to survive as Bed...

June 6, 2023

JPMorgan Chase CEO Jamie Dimon says DOGE ‘needs to be...

February 25, 2025

Ex-CEO of firm that merged with Trump Media accused of...

July 18, 2024

How thousands of Americans got caught in fintech’s false promise

July 3, 2024

Red Lobster closing at least 99 locations as its future...

May 15, 2024

Target unveils new items costing $10 or less — and...

February 19, 2024

Grand Canyon University, largest for-profit college, fined $37.7 million

November 1, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Unlock the Power of StockCharts’ NEW Market Summary Dashboard | Walkthrough & Tips

      May 12, 2025
    • Navigating Earnings: Three Stocks, Three Different Stories

      May 12, 2025
    • The Best Five Sectors, #18

      May 12, 2025
    • Fortnite applies to launch on Apple’s App Store after Epic Games court win

      May 11, 2025
    • Week Ahead: NIFTY Stays In Technically Challanging Environment; Price Action Against These Levels Crucial

      May 11, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,635 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,340 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,324 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,303 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,068)
    • Investing (538)
    • Stock (2,540)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Unlock the Power of StockCharts’ NEW Market Summary Dashboard |...

      May 12, 2025
    • Navigating Earnings: Three Stocks, Three Different Stories

      May 12, 2025
    • The Best Five Sectors, #18

      May 12, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,068)
    • Investing (538)
    • Stock (2,540)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Walmart-owned Sam’s Club tests a future...

    October 9, 2024

    FAA increases oversight of Boeing 737...

    February 7, 2024

    Campbell Soup buying makers of Rao’s...

    August 9, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here