Hapag-Lloyd CEO: Middle East crisis has added $50–60 million in weekly costs

Hapag-Lloyd expressed cautious optimism on 8 Apirl regarding the potential resumption of shipping through the Strait of Hormuz following a two-week ceasefire between the U.S. and Iran.

The company has noted that fully restoring normal traffic across its network could take at least six to eight weeks. As reported, in a call with customers, CEO Rolf Habben Jansen further echoed the guarded stance of container shipping peer Maersk, emphasizing the need for additional security assurances.

According to Reuters, Maersk stated that the two-week ceasefire agreed between the U.S. and Iran could open some opportunities for vessels in the Strait of Hormuz, but did not ​yet provide enough security certainty to resume normal operations.

“Even though a ceasefire has been agreed overnight, it’s fair to say that the conflict in the Middle East continues to severely disrupt shipping and supply chains,” the Hapag-Lloyd CEO said, describing the situation as very fluid.

Jansen also indicated that Hapag-Lloyd may begin accepting customer orders if the ceasefire holds in the coming days. “We will likely open bookings into the upper Gulf region, initially for selected markets, but hopefully more broadly soon,” he added.

Jansen also estimated that the Middle East crisis has added $50–60 million in weekly costs, up from an earlier estimate of $40–50 million, some of which will need to be passed on to customers.

As reported, approximately 1,000 ships remain stuck in the region, including six Hapag-Lloyd vessels with a combined capacity of about 25,000 standard containers.

source : safety4sea