BP Joins Maersk, Hapag-Lloyd in Pausing Shipments Through Red Sea

BP will pause all oil-tanker shipments through the Red Sea after attacks in the area from Yemen’s Houthi rebels, adding to similar moves from major shipping companies in recent days.

“In light of the deteriorating security situation for shipping in the Red Sea, BP has decided to temporarily pause all transits through the Red Sea,” the London-based energy major told Dow Jones Newswires.