Shipping giants warn Red Sea disruption could last for months

Separately, Hapag-Lloyd and Maersk signed an agreement for a new long-term collaboration which they say isn't linked to the Red Sea attacks

Rerouting of ships from the Suez Canal is leading to imbalances in container capacity.

The bosses of two leading shipping giants said they expect Red Sea threats to disrupt shipping for weeks or months longer, extending delays and higher transport costs for companies dependent on goods flowing along trade lanes that link the world’s largest economies.

“For us, this will mean longer transit times and probably disruption of supply chains for a few months at least,” Vincent Clerc, the chief executive of Maersk, said on a panel at the World Economic Forum in Davos.