Reuters reports that Maersk is preparing to restore Red Sea and Suez Canal navigation “as soon as conditions allow,” according to comments made by its CEO during a briefing in Dubai. The update comes amid shifting dynamics in the region and improving prospects for safer movement along a key global shipping corridor.
According to the report, the Suez Canal Authority stated that Maersk vessels are expected to resume transits on a partial basis from early December before returning fully. However, Maersk clarified that it has not set an official date for the full reinstatement of the route.
The potential return of Maersk through the Suez Canal carries notable implications for the wider sector, particularly as freight rates have been influenced by earlier disruptions stemming from regional conflict and attacks on commercial ships in the Red Sea.
Maersk initially diverted its fleet away from the Gulf of Aden and the Red Sea in January 2024, following an attack on one of its vessels during a period of heightened maritime tensions.
At a joint press conference in Egypt, Maersk emphasized that the safety of crew remains its top concern. The company noted that developments in the Gaza peace process and improvements around the Bab al-Mandab Strait—the vital link between the Gulf of Aden and the Red Sea—are contributing to conditions that may soon support the reopening of its East-West corridor operations.
The report adds that Maersk aims to normalise its transit plans over time, aligning with ongoing enhancements in regional stability. During the press event, Maersk and the Suez Canal Authority signed a strategic partnership agreement, underscoring cooperation.
The Suez Canal Authority also reported a 14.2% year-on-year increase in revenues between July and October, attributing the rise to calmer conditions following a ceasefire in Gaza and a corresponding uptick in vessel traffic.
In the broader regional context, the article notes that more than 100 attacks were launched on commercial vessels in the Red Sea, Gulf of Aden, and Bab al-Mandab Strait during 2023 and 2024, prompting widespread diversions and contributing to an estimated $7 billion revenue impact for Egypt’s Suez Canal in 2024.
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Source: Reuters
