Danish shipping company Maersk said on Friday that one of its vessels had successfully navigated the Red Sea and Bab el-Mandeb Strait for the first time in nearly two years, as shipping companies weigh returning to the critical Asia-Europe trade corridor.
The company stated that while it had no firm plans to fully reopen the route, it would take a "stepwise approach towards gradually resuming navigation" via the Suez Canal and the Red Sea. Maersk declined to further elaborate on its plans.
Maersk and rivals, including Germany's Hapag-Lloyd, rerouted vessels around Africa's Cape of Good Hope from December 2023 after Yemeni Houthi rebels attacked ships in the Red Sea in what they said was a show of solidarity with Palestinians in Gaza.
The Suez Canal is the fastest route linking Europe and Asia and until the attacks had accounted for about 10% of global seaborne trade, according to Clarksons Research.
French shipping firm CMA CGM has already made limited passages through the Suez Canal when security conditions allowed, with other operators similarly exploring resumption plans.
"Most carriers appear to be adopting a wait-and-see approach, monitoring developments, and any meaningful reopening would likely unfold gradually," said Nikos Tagoulis, analyst at Intermodal Group.
The potential return of Maersk to the Suez Canal could ripple through the shipping sector, where freight rates have risen because the alternative route added weeks to transit times between Asia and Europe.
A recent ceasefire in the Gaza conflict has renewed hope of normalizing Red Sea traffic, though analysts note the fragility of the truce.
"By the end of 2026, we estimate things will start to look like they were before the Houthis attack started," said Simon Heaney, a container industry analyst at Drewry Shipping Consultants. "The risk level has reduced, so they're prepared to test the waters. But the Houthis aren't particularly reliable."
Maersk confirmed that one of its smaller vessels, Maersk Sebarok, had completed the first test transit through the Red Sea on Thursday and Friday, while stressing that no additional sailings were currently planned.
"Whilst this is a significant step forward, it does not mean that we are at a point where we are considering a wider East-West network change back to the trans-Suez corridor," it said.
Niels Rasmussen, chief shipping analyst at ship-owner association BIMCO, projected that broader resumption of Suez Canal transits could result in a 10% drop in ship demand.
"The possibility of a return to Suez Canal routings looms large over the market outlook," he said in a note published on Thursday.
Source: Reuters
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