Australian mining giant BHP has reported that shipping companies are avoiding the Red Sea due to the ongoing turmoil in the region. While most of BHP's shipments do not cross the Red Sea, some are using alternative routes like the Cape of Good Hope around Africa.
This is in line with major oil giants BHP and Shell temporarily halting use due to Houthi attacks. BHP's Marine Iron Ore Division Head, Gerard Ang, highlighted that approximately 320 million tons of bulk goods navigate through the Suez Canal and the Red Sea. Despite these strategic adjustments, BHP's revenues from Europe in 2023 amounted to $1.96 billion.
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