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Delivering giants Maersk and Hapag-Lloyd see no immediate return to Red Sea

2 of the world's top shipping business, Maersk and HapagLloyd, stated on Thursday they did not see an immediate go back to Red Sea after the ceasefire in between Hamas and Israel was announced.

Both business said they would be carefully monitoring the situation in the Middle East and would go back to the Red Sea when it was safe to do so.

The arrangement has actually only just been reached. We will closely analyze the most recent advancements and their effect on the security circumstance in the Red Sea, a Hapag-Lloyd representative informed Reuters.

It is still prematurely to hypothesize about timing, a Maersk representative stated.

Hapag-Lloyd had currently flagged in June that a ceasefire would not indicate an immediate resume of passage through the Suez Canal, as attacks from Yemen-based Houthi militants might still be possible.

Reorganizing the schedule would take between 4 and six weeks, a company spokesperson said at the time.

Disruptions in the Middle East have caused shipping business to divert their vessels towards longer routes, often requiring their container ships around Africa's Cape of Great Hope, pushing freight rates greater and interrupting worldwide ocean shipping.

(source: Reuters)