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Navigating market waves: Red Sea tensions, shipping and energy
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Maersk to resume operations in Red Sea

The United States said on Tuesday it was launching a multinational operation to protect commerce in the Red Sea from Iran-backed Yemeni militants, who have been firing drones and missiles at international vessels since last month in what they say is a response to Israel’s war in Gaza.
Maersk to resume operations in Red Sea
“As of Sunday, December 24, 2023, we have received confirmation that the previously announced multi-national security initiative Operation Prosperity Guardian (OPG) has now been set up and deployed to allow maritime commerce to pass through the Red Sea/Gulf of Aden and once again, return to using the Suez Canal as a gateway between Asia and Europe,” Maersk said in a statement on Sunday.
“With the OPG initiative in operation, we are preparing to allow for vessels to resume transit through the Red Sea both eastbound and westbound.”
Maersk said it would release more details in coming days. But it said it could again resort to diverting ship traffic depending on how safety conditions evolved.
Maersk to resume operations in Red Sea
On Tuesday, Maersk said it was rerouting ships around Africa via the Cape of Good Hope. It said it would impose container surcharges for shipments from Asia to cover the extra costs associated with the longer journey.
Several other firms have stopped transiting the Red Sea on safety concerns in recent weeks, as has oil major $BP PLC(BP.US)$ . $A.P. Moller - Maersk A/S Unsponsored ADR(AMKBY.US)$ $ZIM Integrated Shipping(ZIM.US)$ $Occidental Petroleum(OXY.US)$
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    True and timely
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