Maersk and Hapag-Lloyd are set to resume Suez Canal sailings after security assessments, marking a significant step in their Gemini alliance.
Shipping giants Maersk and Hapag-Lloyd will resume sailings through the Suez Canal under their Gemini alliance after security assessments in the Red Sea, reported Reuters.
The Asia-Europe corridor via the Suez Canal was abandoned by most carriers after Houthi attacks in late 2023, forcing diversions around Africa's Cape of Good Hope. The companies stated that this joint decision marks a step towards a gradual return to the trans-Suez route.
Hapag-Lloyd announced that changes to the AE15 service, which links Asia, the Mediterranean, and Europe, will cut transit times by four weeks. According to Clarksons Research data, the Suez Canal accounted for 10 percent of global seaborne trade before the attacks.
Maersk indicated that any changes to Gemini services will depend on the stability in the Red Sea and the absence of conflict escalation. The company added that it would continue to monitor conditions in the Middle East.
Shares in Maersk fell by 5.8 percent, while Hapag-Lloyd dropped by 2.7 percent after the announcement, reflecting concerns over freight rate pressure. Jyske Bank analyst Haider Anjum noted that this move could pave the way for a full return to the Red Sea by year-end, adding that new ship deliveries in 2027 and 2028 may further weigh on rates.
The carriers resumed their joint ME11 service through the Suez Canal in February under naval escort but suspended transits later that month after the outbreak of the Iran war, according to Maersk.
