The memorandum would set up a trilateral partnership centered around shipping routes, energy resources and economic security. 

The San Pedro Bay Ports Complex will offer qualifying zero-emission trucks $60 per terminal visit, totaling up to $36,000 per vehicle annually.

Attacks in the maritime sector have escalated in recent years as vessels become increasingly dependent on digital systems for navigation, communications and other operations. 

Maersk and Hapag-Lloyd say that they plan to continue monitoring the security situation in the Middle East, and that any changes to services will depend on the ongoing stability of the Red Sea region.

Before the conflict, Jebel Ali was the busiest container port outside of Asia, ranking in the top 10 globally and serving mostly as a transshipment hub.

The Houthis earlier said they posed no threat to international shipping, and that they only planned to target vessels from Saudi Arabia.

The Houthis’ aim to force Saudi Arabia and the U.S. to lift the U.S. blockade on Iranian oil tankers in the Persian Gulf.

Port director Seroka said September is shaping up to be another strong month, and that the port is confident in its momentum headed into the rest of the year.

Iran's Islamic Revolutionary Guard Corps says that it successfully hit two U.S. vessels and eight oil tankers, marking the most significant escalation of the conflict in weeks.

The Panama Canal Authority already cut draft restrictions for Neopanamax vessels twice this summer.