Japanese Shipping Company Changes Ship Routes Away from the Red Sea

"Ocean Network Express," a container shipping joint venture that includes Mitsui O.S.K. Lines, Nippon Yusen, and Kawasaki Kisen Kaisha, announced on Tuesday that it has decided to change its ship routes away from the Suez Canal and the Red Sea. The company stated on its website, "Ocean Network Express is taking immediate steps to prioritize the safety and security of our crews," adding that this is a temporary safety measure. Instead, the company, headquartered in Singapore, will either redirect its ships around the Cape of Good Hope or temporarily suspend its voyages or change their location to a safe area. On the same day, the United States launched a multinational security operation to secure trade in the Red Sea, as attacks by Yemeni militants have forced major shipping companies to alter their routes, raising concerns about a potential lasting negative impact on the global economy.