Maersk to decide on resuming Red Sea shipping on Tuesday - Reuters

Investing.com -- Copenhagen-listed shares in Maersk (CSE:MAERSKb) were higher in mid-day European trading on Tuesday, with the Danish shipping giant reportedly set to decide whether to resume sending vessels through the Suez Canal via the Red Sea following an attack on one of its ships in the region last weekend.

Maersk paused sailings through the Red Sea for 48 hours on Sunday following an attempt by Yemen-based Houthi militants to board one of its vessels. U.S. military helicopters repelled the assault, sinking three ships and killing 10 militants, according to Reuters.

Citing a company spokesperson, Reuters reported that Maersk will take a decision on how best to proceed in the region -- a crucial shipping artery between Europe and Asia used by around one-third of global container vessels -- on Tuesday.

The Iran-backed Houthis have been carrying out a string of attacks on international shipping through the Red Sea since November in a show of support for Palestinian group Hamas in its ongoing war against Israel in the Gaza Strip.

Maersk peer Hapag-Lloyd has moved to divert its vessels to avoid the Suez Canal and Red Sea, rerouting them around the Cape of Good Hope in southern Africa. The firm said it would announce an update on the situation on Tuesday, Reuters reported.

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