British energy giant BP Plc. is said to have decided to pause all shipping transits through the Red Sea due to a "deteriorating security situation," Sky News reported on Monday citing the company's statement.
"The safety and security of our people and those working on our behalf is BP's priority," the media outlet cited the energy giant's notice. The decision comes amid recent attacks by Yemen's Houthi rebel group in the area which targeted commercial vessels heading towards the Suez Canal.
Several shipping companies have also announced their decisions to pause shipments via the Red Sea over the weekend due to the growing tensions in the region. Taiwanese transport company Evergreen Marine Corporation also suspended Israel's import and export services until further notice.
