Carriers Divided as Gemini Confirms New Suez Loop Return
The potential for a return of container services to the Suez Canal has taken another turn, following the Gemini Cooperation’s latest announcement of a full service resumption through the region.
CMA CGM, which became the first major carrier to transit the Red Sea again in early November, reversed course last week, cancelling its Red Sea routings due to renewed security concerns.
In contrast, Gemini partners Maersk and Hapag-Lloyd confirmed yesterday that their ME11 service — connecting India and the Middle East with the Mediterranean — will resume transits via the Suez Canal from mid-February. Although notably, the ME11 sailings will pass through the high-risk zone under the protection of the US Navy.
Tensions were elevated last month when Houthi rebels released a video showing a vessel ablaze, accompanied by a stark warning message reading simply “soon”, which coincided with rising friction between the US and Iran.
Gemini was the first alliance to formally announce the return of a full service loop last month, confirming that its MECL service linking the Middle East with the US East Coast had resumed. Carrier website schedules still indicate that Suez transits remain for the service.
Reports suggest carrier insurance premiums for transiting the region have dropped sharply from peaks of around 1%, suggesting improved confidence. However, a broader industry return to Suez seems to remain out of reach in the near future and will undoubtedly hinge on the absence of further Houthi attacks, and perhaps a meaningful de-escalation in US–Iran tensions.
Atlantic Pacific continues to monitor developments closely.
