Red Sea crisis unlikely to end soon, Hapag-Lloyd CEO says

HAMBURG: Attacks on cargo vessels in the Red Sea by Yemen-based Houthi rebels are unlikely to end soon, forcing shipping companies to avoid the route through the Suez Canal, the head of Germany’s Hapag-Lloyd told reporters on Wednesday, according to Reuters.

“We don’t think it will be over the day after tomorrow,” CEO Rolf Habben Jansen said at a news briefing in Hamburg. “Whether it’ll be one, three or five months — I don’t know.”

A political deal and a mission to protect freight vessels might bring a resolution within six months, he added.