Danish shipping giant A.P. Moller-Maersk A/S saw a 45% decline in its net profit in the second quarter, as supply chain issues due to the escalating Red Sea crisis led to higher operating costs, Al Arabiya reported. The firm’s operating profit also fell by 26% to $2.14 billion. Months of attacks by Yemen’s Houthi militants have forced shipping firms to take longer routes to avoid the Red Sea, which normally carries about 12% of global trade.
