Maersk & Hapag-Lloyd Resume Asia-To-Med Shipping Via Red Sea
Maersk said the shorter route will free up capacity and could ease container rates after detours around Africa tightened supply.
- On July 6, shipping giants Maersk and Hapag-Lloyd announced they will redirect their shared Gemini Cooperation AE15 service through the Suez Canal, connecting China with the Mediterranean instead of taking lengthy detours around Africa.
- Yemen-Based Houthi Group attacks on merchant vessels in the Red Sea previously forced shippers to abandon the Suez route, compelling companies to opt for longer journeys around Africa's Cape of Good Hope to avoid conflict.
- Data from Clarksons Research show the Suez Canal is the fastest link between Europe and Asia, accounting for 10 per cent of global seaborne trade before detours constrained shipping capacity and sent spot container rates skyrocketing.
- Shares in Maersk and Hapag-Lloyd fell on July 6, with Maersk plunging up to 9 per cent in Copenhagen and Hapag-Lloyd sliding up to 4.6 per cent in Frankfurt as investors anticipate lower freight rates.
- Jyske Bank analyst Haider Anjum stated, "We view this as the first step that will pave the way for a full return to the Red Sea by the end of this year," though carriers will continue monitoring regional stability.
28 Articles
28 Articles
Major shipping carriers resume some sailings through Suez Canal
Danish shipping giant A.P. Moller Maersk said on Monday it will resume some sailings through the Suez Canal under the joint network with its German peer Hapag-Lloyd, instead of sending vessels around Africa's Cape of Good Hope.
Maersk & Hapag-Lloyd Resume Asia-To-Med Shipping Via Red Sea
Image for representation purposes only Maritime shipping giants A.P. Moller-Maersk A/S and Hapag-Lloyd AG announced they will begin returning vessels to the Red Sea and Suez Canal corridor. The decision has been driven by recent security assessments and marks an end to the costly detours around Africa’s Cape of Good Hope for select routes. Operating under their shared capacity alliance, the Gemini Cooperation, the two carriers revealed they are …
Maersk, Hapag-Lloyd resume Suez Canal route for Gemini Asia-Europe service
The move replaces the longer Cape of Good Hope route, reducing transit times between Asia and the eastern Mediterranean, although the companies said the decision remains subject to regional security conditions
The shipping companies announce the detour of one of their routes from the Gemini alliance to the enclave once the escalation of war in the area of the Strait of Ormuz and all Middle East The ports of Algeciras and Huelva face the energy transition as a
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