Hapag Lloyd CEO Expects Red Sea Crisis to End This Year

The CEO of German container shipper Hapag-Lloyd said on Monday he expects that the Red Sea crisis can be overcome before the end of the year.

Ship operators face prolonged disruption as Yemen-based Houthi militants attack vessels travelling on one of the world's busiest routes, causing costly redirections around Africa.

"It is my personal expectation that the Red Sea crisis will come to an end before the end of 2024," Chief Executive Rolf Habben Jansen said in an online discussion panel organised by the company.

He said he was slightly more optimistic about the duration of the crisis than the average in the industry.

(Reuters - Reporting by Elke Ahlswede; writing by Ludwig Burger; Editing by Leslie Adler)