Maersk is preparing to restart its Red Sea route through the Suez Canal, contingent on improved conditions, said CEO Vincent Clerc.
In a statement from the Suez Canal Authority, it was confirmed that Maersk container ships will partially resume transit through the canal starting in December. However, a spokesperson for Maersk noted that a full return date has not yet been finalized.
The potential resumption of Maersk operations through the Suez Canal could impact global shipping, as disruptions from regional conflicts and attacks on vessels in the Red Sea have supported freight rates.
After a Houthi attack on one of its vessels in January 2024, Maersk diverted ships away from the Gulf of Aden and Red Sea, opting instead for the southern route around Africa. The attack was part of a series of incidents linked to Yemen’s militants who acted in solidarity with Palestinians in Gaza.
Safety of Crew Remains Key, Says CEO
Clerc noted that progress in the peace talks in Gaza had created hope for a safer passage through the Bab al-Mandab Strait, a crucial chokepoint connecting the Gulf of Aden and the Red Sea. At a joint press conference with Suez Canal Authority chair Osama Rabie in Egypt, Clerc remarked:
“With significant progress in both Gaza and the Bab al-Mandab, Maersk will take steps to resume navigation via the Suez Canal and the Red Sea, gradually normalizing operations as conditions allow.”
Clerc added that the company is prioritizing crew members’ safety and will only proceed with the Red Sea route when deemed safe.
The two organizations also signed a strategic partnership agreement during the press conference.
In a separate announcement, the Suez Canal Authority reported a 14.2% increase in revenues year-over-year between July and October, attributing it to improved conditions in the Red Sea following the Gaza ceasefire and a surge in traffic through the vital waterway.
Houthi Attacks Disrupt Shipping
In 2023 and 2024, Iran-aligned Houthis launched more than 100 attacks on commercial vessels in the Red Sea, the Gulf of Aden, and the Bab al-Mandab Strait, which they said were in support of Palestinians amid the ongoing conflict with Israel. These attacks prompted many shipping companies, including Maersk, to reroute their vessels.
As a result, the regional unrest cost Egypt an estimated $7 billion in lost Suez Canal revenue for 2024.
