Following a series of attacks on ships in the Red Sea by Iranian-backed Houthi militants, shipping giants Maersk and Hapag-Lloyd have rerouted their vessels, opting for the longer Cape of Good Hope route in South Africa.
Hapag-Lloyd
Breaking News
Shipping giants Maersk and Hapag-Lloyd have temporarily suspended their container ship travel through the Red Sea and the Bab el-Mandeb Strait in the Middle East, citing security risks.
TUI AG is in talks with investors interested in buying its stake in Hapag-Lloyd as an option in its long-planned exit from the German shipping company, TUI's chairman told a newspaper.
Hapag-Lloyd AG has agreed to buy Cia. Sud Americana de Vapores SA in a deal that would create the fourth biggest shipping firm in the world.
Top executives of shipping companies Compania Sud Americana de Vapores and Hapag-Lloyd were reportedly negotiating a merger deal. Vapores has suffered losses and is seeking for ways to become more competitive.
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