A.P. Moller-Maersk A/S and Hapag-Lloyd AG signaled confidence about resuming passage through the Red Sea, sending the container carriers’ shares down on expectation a return to the shorter route will ease capacity constraints and temper a surge in shipping rates.
In statements on Monday, the two said they’re redirecting a service that links the southern Mediterranean with China through the Red Sea and Suez Canal — rather make the longer journey around Africa’s Cape of Good Hope. Maersk, the world’s second-biggest container line, and No. 5 Hapag-Lloyd operate a capacity-sharing alliance known as Gemini.
