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Denmark's Ambassador to Egypt said Maersk is closely monitoring developments in the Red Sea and considering a gradual return to the Suez Canal, reports London's S&P Global.
Lars Bo Moller made the remarks during a meeting with Suez Canal Authority officials, where chairman Osama Rabie urged the carrier to resume operations as Israel and Hamas pursue a peace accord to end the Gaza war.
Shipping firms abandoned the Red Sea route in early 2024 after Houthi attacks on merchant vessels following the outbreak of war in October 2023. The disruption has cost Egypt tens of billions in lost canal tolls.
Container lines rerouted vessels around the Horn of Africa, extending voyages by up to two weeks. Military efforts by the United States and European Union in Yemen have failed to neutralize the Houthi threat, with recent attacks causing casualties.
Maersk shares fell four per cent after news of a Gaza ceasefire, as investors anticipate lower freight rates from restored Red Sea access.
Mr Rabie noted Maersk is expanding the Suez Canal Container Terminal at East Port Said. The company also operates at Alexandria, Damietta and Port Said.
Moller, unrelated to the Moller-Maersk family, praised the partnership with the canal authority and said the terminal project would strengthen the port's role as a regional trade hub.
https://www.shippingazette.com/news?news_id=9251000000760
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