Major Shipping Companies Suspend Red Sea Services Amid Escalating Houthi Attacks

The suspensions disrupt global trade and may lead to military escalation in the Middle East, posing significant implications for the world economy.

Four of the world's largest shipping companies, including Maersk and MSC, have suspended their services in the Red Sea due to escalating attacks by Iran-backed Houthi militants.
The attacks are in response to the ongoing war between Israel and Hamas, with the Houthis claiming to target all ships heading to Israeli ports.
The suspended services are causing major disruptions to global trade, as the Red Sea is a major route for traffic from the Suez Canal.
The US and its allies are increasing naval activity in the Middle East in an attempt to re-establish free passage.
The crisis could lead to military escalation in the Middle East and has significant implications for the world economy.