Ocean Network Express, a container shipping joint venture of Japan’s Mitsui O.S.K. Lines 9104.T, Nippon Yusen 9101.T and Kawasaki Kisen Kaisha 9107.T, said on Tuesday it had decided to reroute vessels away from the Suez Canal and the Red Sea.

“Ocean Network Express (ONE) is taking immediate action to prioritise the safety and security of our seafarers,” the company said on its website, adding this was a temporary safety measure.

Instead, ONE, headquartered in Singapore, will either navigate its vessels around the Cape of Good Hope or temporarily pause their journey and reposition them in a safe location, the company said.

The United States on Tuesday launched a multinational operation to safeguard commerce in the Red Sea as attacks by Iran-backed Yemeni militants forced major freight companies to reroute, fuelling concern over a sustained global economic impact.

Source: Reuters reported by Kiyoshi Takenaka and edited by Alex Richardson, Kirsten Donovan