This marks a first step towards ending two years of global trade disruption due to attacks on ships by Yemeni Houthi rebels.
The Danish shipping group’s share price fell more than 7% on the news, reflecting the likelihood of lower freight rates as vessels gradually return to the shorter Suez route.
Shipping companies are weighing a return to the critical Asia-Europe trade corridor after vessels were rerouted in late 2023 around Africa following the Houthis’ attacks in the Red Sea in what they said was to show solidarity with the Palestinians in Gaza.
Maersk said its weekly service connecting the Middle East and India with the United States east coast, known as MECL, will be first in the group’s staggered return to the Suez route, starting on January 26 with a sailing departing Oman’s port of Salalah.
“This decision follows a continued stabilisation of conditions in and around the Red Sea, including the Suez corridor, as well as improved stability and reliability in the region,” Maersk said in a statement.
–Reuters–
