Mærsk: Shipping in Red Sea Begins in mid-2025

Mærsk Shipping Company, the world's second shipping line, expects the Red Sea to partially open in the middle of this year, explaining that it can fully return by the end of this year, according to a report issued by the company.

The company indicated in its report that it achieved strong financial results for 2024 with growth in all sectors, with earnings before interest, taxes, depreciation and amortization increasing by 65% ​​to reach $6.5 billion.

It pointed out that the results were achieved due to the increase in demand for containers and higher freight rates, revenue and volume growth at terminals, and strong improvements in most logistics and service products.

Mærsk indicated that profitability improved in the oceans compared to the previous year, supported by a significant increase in freight rates reflecting the situation in the Red Sea and strong demand for volume.

Operating costs were stable on an annual basis, which compensated for the increased costs and additional fuel consumption to reroute ships south of the Cape of Good Hope instead of using the Red Sea.

Logistics also showed resilience in 2024 with the construction of several terminals, a significant increase in revenues each quarter, resulting in volume growth, increased revenues and improved EBIT margins compared to 2023.

It confirmed that the terminals achieved their best financial results ever in 2024, with EBITDA and EBITDA reaching record levels, driven by significant growth due to warehousing revenues.

The company expects global container volume growth in 2025 to reach 4% and that Mærsk will grow in line with the market, as it expects the Red Sea to resume operations in the middle of this year for some services, with it to be fully opened by the end of this year.

It confirmed that its expectations for 2025 are subject to significant macroeconomic uncertainties affecting container volume growth and freight rates.

Mærsk also returned $1.6 billion to shareholders through 2024 through dividends and share buybacks, and the Svitzer spin-off returned $1.1 billion to shareholders through dividends in kind.