Maersk CEO says conditions right to increase transit through Suez
Maersk CEO says conditions right to increase transit through Suez Maersk, a Danish shipping company that accounts for 15 percent of maritime transport worldwide, reported a second-quarter operating profit above expectations and raised its full-year earnings guidance. CEO Vincent Clerc said he thought the "conditions for a full return to Suez during 2026 are in place", as long as "nothing happens…
Maersk CEO Vincent Clerc believes the conditions are favorable for a full return to the Suez Canal by 2026, provided there are no developments in Yemen. Yemen's Houthi rebels have been targeting ships passing through Bab al-Mandab and the Red Sea since 2023, and recently announced a blockade of vessels carrying Saudi oil. Despite this, Clerc attributes the current high freight rates in the maritime industry to congested ports, not the Strait of Hormuz.
Maersk plans to continue evaluating security conditions to resume the next stage of reopening the Suez Canal, in partnership with Hapag-Lloyd, a German shipping company that handles 7 percent of global maritime cargo.
Written by urgent.news from Middle East Eye's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
