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Trends and Insights

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18 Dec 2023

Shipping Giants Halt Red Sea Routes After Attacks

Following a series of attacks by Iran-backed [Houthi rebels]( in Yemen targeting vessels headed to Israel, major shipping companies including MSC, CMA CGM, Maersk, and Hapag-Lloyd [have diverted from the Red Sea]( The strategic maritime route, essential for oil and fuel transport, has seen increased security risks, with the Houthis intensifying assaults with drones and rockets, signaling support for Hamas after recent conflicts between Israel and Gaza.