Arab Finance: Maersk is planning to divert its container ships from the Red Sea - Gulf of Aden to Africa's Cape of Good Hope for the foreseeable future, the Danish shipping giant announced in a statement on January 5th.

The decision comes after the recent attack on one of Maersk's container vessels by Houthi militants in the Red Sea.

Maersk has taken the precautionary measure of redirecting all its container vessels around Cape of Good Hope, abandoning the usual and shorter route through the Suez Canal.

This shift in shipping routes is expected to add approximately 10 days to journey times, increasing fuel and crew-time requirements and subsequently raising shipping costs.

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