File Photo: Hapag-Lloyd CEO Rolf Habben Jansen. AP
Reuters stated that Hapag-Lloyd, the fifth-largest container company globally, has been cautious about a possible return following the Gaza ceasefire deal, brokered by Egypt, the US, Qatar, and Turkey in October, as it closely monitors security conditions.
In an online call with customers, Jansen emphasized that a transition period of 60 to 90 days would be required to adjust current logistics and prevent sudden port congestion. He noted that people will be informed as soon as new information becomes available.
Similarly, Suez Canal Authority (SCA) Chairman Osama Rabie announced last week that A.P. Moller–Maersk will begin routing its container vessels back through the Suez Canal in December as a first step toward a full return.
Since the outbreak of Israel's genocidal war on Gaza in October 2023, global shipping lines began diverting vessels due to attacks on commercial ships in the Red Sea and Bab Al-Mandab strait by the Houthis, a Yemeni militant group, in solidarity with Gaza.
The return of major carriers follows a period of significant economic losses for the Suez Canal, which handles around 12 percent of global trade, with the canal revenues falling by more than 60 percent (nearly $7 billion) in 2024.
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