By Christian Moess Laursen

BP will pause all oil-tanker shipments through the Red Sea after attacks in the area from Yemen's Houthi rebels, adding to similar moves from major shipping companies in recent days.

"In light of the deteriorating security situation for shipping in the Red Sea, BP has decided to temporarily pause all transits through the Red Sea," the London-based energy major told Dow Jones Newswires.

The decision will be under continuous review, as circumstances in the region evolve, it said.

Ship operators have been dealing with elevated risk moving cargo through the region in recent weeks as Yemen's Houthi forces have attacked commercial ships.

On Friday, shipping and logistics majors A.P. Moller-Maersk and Hapag-Lloyd stopped their ships from using the southern entrance of the Red Sea after attacks on their vessels.

"We are deeply concerned about the highly escalated security situation in the southern Red Sea and Gulf of Aden," Maersk said in a statement Friday.

On Saturday, France's CMA-CGM also said it has been taking measures in response to the attacks and the deteriorating situation.

Shell didn't immediately respond when contacted by Dow Jones Newswires.

Write to Christian Moess Laursen at christian.moess@wsj.com

(END) Dow Jones Newswires

December 18, 2023 07:42 ET (12:42 GMT)

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