German shipping giant warns full recovery could take weeks after US-Iran ceasefire

German shipping giant Hapag-Lloyd’s CEO Rolf Habben Jansen expressed cautious optimism on April 8 regarding the resumption of maritime traffic through the Strait of Hormuz following the two-week ceasefire agreed between the US and Iran.

However, he warned that returning to normal operations across its network could take at least six to eight weeks, Caliber.Az reports, citing Reuters.

Speaking at a client conference, Jansen echoed the restrained comments of container shipping rival Maersk, emphasising that additional security guarantees are needed.

“Even if a ceasefire has now been agreed overnight, I would say that it's fair to say that the conflict in the Middle East is still ​severely disrupting shipping, but also supply chains,” Habben Jansen said, adding that the situation remains “very fluid.”

He noted that fulfilling client orders would be possible only if the ceasefire holds over the next few days.

“We will likely open up for bookings into the upper Gulf area, probably initially for selected markets, but hopefully fairly soon,” he added.

Hapag shares rose 5.5% at 09:35 GMT, recovering losses from the previous three trading days, while Maersk shares fell 1.5%, reflecting market relief over the preliminary deal.

Jansen estimated that the additional costs stemming from the Middle East crisis amount to $50–60 million per week, warning that the company would have to pass some of these costs on to customers.

Earlier estimates had ranged from $40–50 million per week.

Hapag-Lloyd also reported that around 1,000 vessels remain in the region, including six of its own ships, with a total capacity of about 25,000 standard containers.

By Bakhtiyar Abbasov