The CEO of one of the globe’s largest shipping firms has indicated that normal operations through the Suez Canal are unlikely to resume until “well into 2025”.

Vincent Clerc, the chief executive of Maersk, the Danish shipping and logistics leader recognized as a key player in global trade, remarked: “There are no indications of de-escalation, and it remains unsafe for our vessels and crews to operate in that area. Our current expectation is that this situation will persist well into 2025.”

Recent attacks by Houthi militants on ships in the Red Sea have critically impacted this essential shipping lane connecting Asia and Europe.

The militant group, which has affiliations with Iran, intensified its assaults on maritime vessels in response to the conflict in Gaza, causing rerouted shipments, increased freight costs, and congestion at ports in both Asia and Europe.

In January, Maersk announced its decision to reroute all container ships from the Red Sea, opting to navigate around the Cape of Good Hope for the foreseeable future.

Despite the continued disruptions, Clerc stated on Thursday that there were no signs of a decline in trade volumes from Europe or North America anticipated in the upcoming months.

Maersk reported robust demand during the third quarter, primarily fueled by exports from China and Southeast Asia.

Following this announcement, Maersk’s shares rose by 6.8 percent on Thursday; however, they remain down by 16 percent for the year so far.

Last month, the Danish shipping giant secured a “major long-term agreement” with LONGi Green Energy Technology to obtain a greater supply of green methanol for its new vessels in China starting in 2026.