Maersk Eyes Return to Suez Amid Red Sea Calm

Shipping group Maersk plans to resume using the Suez Canal as conditions improve, according to CEO Vincent Clerc. Amid regional conflicts and past attacks, Maersk had diverted ships. The decision aligns with improved peace in Gaza and increased Suez Canal revenue, highlighting a strategic partnership with Egyptian authorities.

Maersk, the leading shipping group, has announced plans to resume transit through the Suez Canal as conditions allow, according to CEO Vincent Clerc. This follows a partial agreement with the Suez Canal Authority, aiming for a full return beginning December.

The decision comes amid ongoing regional tensions that had previously disrupted shipping and necessitated alternative routes via the southern tip of Africa. Recent peace developments in Gaza and the Bab al-Mandab strait are encouraging signs for Maersk, Clerc noted, underscoring the safety of crew members as a top priority.

The strategic partnership agreement signed between Maersk and the Suez Canal Authority is expected to bolster canal revenues, which reportedly rose by 14.2% this year. Although regional conflicts have impacted canal traffic, Maersk's potential return could signify economic stabilization for Egypt.

(With inputs from agencies.)