Since Houthi militants in Yemen have increased their attacks on cargo ships, BP has stopped all oil and gas supplies across the Red Sea. Amid Middle East tensions, the British oil corporation announced on Tuesday that it had suspended shipping in the region indefinitely, citing a "deteriorating security situation." After five major shipping companies halted their ships from traveling across the waters that connect Asia and Europe, with the Suez Canal at the apex, BP became the first oil company to directly stop its own shipping.
Following attacks carried out by the Houthis in retaliation for Israel's attempts to attack Hamas in Gaza, the firms took the necessary steps to secure their vessels. Among these have been assaults on US warships and gunfire targeting commercial ships near Yemen's coast.
"The safety and security of our people and those working on our behalf is BP's priority," BP stated in a statement, referring to both its trading and shipping companies as well as all other BP enterprises. "BP has decided to temporarily halt all transits in the Red Sea due to the worsening security situation for ships in the region. "We will continue to monitor this precautionary pause, taking into account the changing circumstances in the area."
Evergreen, a multinational container shipping company, announced separately on Monday that it was halting operations in the area "until further notice" because of "rising risk and safety considerations."All shipments for which the company is accountable, whether they are made using its own ships or contracted shipments made by other businesses, have been put on hold. Liquified natural gas, oil, and goods derived from oil are transported by BP.
In order to counter the attacks, US Defense Secretary Lloyd Austin is anticipated to declare on Monday the creation of an enlarged marine defense force made up of Arab governments and temporarily named Operation Prosperity Guardian.
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