INSEAD Day 4 - 728x90

Google to invest $6.4bn

The investment is its biggest-ever in Germany.

Pfizer poised to buy Metsera

The pharma giant improved its offer to $10bn.

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

Maersk halts ships’ transit via Red Sea strait for 48 hours

The Houthis have targeted vessels in the vital Red Sea with strikes they say are in support of Palestinians in Gaza, (AFP)
  • The Maersk Hangzhou, a Singapore-flagged, Denmark-owned container vessel reported being struck by a missile while transiting the Bab al-Mandab Strait.
  • It appeared to be undamaged in that attack and "was able to continue its transit north", said Maersk, one of the world's largest shipping companies.

COPENHAGEN, DENMARK – Shipping giant Maersk said on Sunday it was suspending the passage of vessels through a key Red Sea strait for 48 hours, after Yemeni rebels attacked one of its merchant ships.

The Maersk Hangzhou, a Singapore-flagged, Denmark-owned and operated container vessel en route from Singapore to Port Suez in Egypt, reported being struck by a missile while transiting the Bab al-Mandab Strait.

It appeared to be undamaged in that attack and “was able to continue its transit north”, said Maersk, one of the world’s largest shipping companies.

It was then attacked by four ships operated by Yemen’s Iran-backed Houthi rebels, which “engaged fire in an expected attempt to board the vessel”, the Danish shipping company said.

The US military said navy helicopters sank three of the ships while the fourth fled.

“In light of the incident — and to allow time to investigate the details of the incident and assess the security situation further — it has been decided to delay all transits through the area for the next 48 hours,” said a Maersk statement.

The Houthis have repeatedly targeted vessels in the vital Red Sea shipping lane with strikes they say are in support of Palestinians in Gaza, where Israel is battling Hamas.