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Danish shipping giant Maersk on Friday temporarily suspended two services linking the Middle East to Asia and Europe as the Iran war continues to disrupt global supply chains.
The company, widely regarded as a barometer of global trade, said the decision to halt the FM1 service, connecting the Far East to the Middle East, and the ME11 Service, linking the Middle East to Europe, was a precautionary measure to ensure the safety of its personnel and vessels.
It comes as the U.S. and Israeli-led war on Iran enters its seventh day, with the expanding conflict resulting in the effective halt of shipping traffic through the strategically vital Strait of Hormuz.
The waterway is a key, narrow maritime corridor that connects the Persian Gulf and the Gulf of Oman. Roughly 20% of global oil and gas typically passes through it.
