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Evergreen, Yang Ming hold off to resume Red Sea route
Taiwanese shipping companies Evergreen Marine Corp. and Yang Ming Marine Transport Corp. have chosen not to resume their Red Sea route following Maersk’s decision to do so. Maersk reinstated the route due to the "Red Sea crisis" caused by increased violence from Yemen’s Houthi rebels. The deployment of the multinational naval task forces under the U.S.-led Operation Prosperity Guardian (OPG) has allowed maritime trade to pass through the Red Sea/Gulf of Aden and resume using the Suez Canal. However, Maersk warns that the overall risk in the region has not been eliminated. The decision has led to concerns about container prices and resulted in a decline in Evergreen and Yang Ming’s stock prices. Freight rates for European and American shipping liners saw a significant increase after Maersk’s announcement.2023/12/26 18:31