Hapag-Lloyd, a German container shipping firm, said on Thursday that it has noted calmer conditions around the Suez Canal following a ceasefire during the Gaza conflict. However it will not reopen sailings until the canal is safe.

In a conference call with analysts, Rolf Habben Jansen, the chief executive of the company, said that he did not see the company returning anytime soon. He added that his firm was monitoring the situation and speaking to its shipping partners.

Owners of vessels are forced to take expensive alternative routes because Houthi militants based in Yemen have been attacking vessels on the Red Sea since November 2023 in solidarity with Palestinians in Gaza's war.

(source: Reuters)