Evergreen and Yang Ming Resume Red Sea Transits Bound for Suez
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Taiwanese carriers Evergreen Marine and Yang Ming Marine Transport are preparing to resume their Red Sea transits, in a move that adds to the accelerated return of the major shipping alliances to the Suez Canal. According to the latest service restorations, the three major container shipping alliances and MSC are on track to fully restore their networks through the canal by early 2027.
Evergreen returns after nearly three years
Evergreen, the last Ocean Alliance partner still maintaining the diversion, scheduled its first Suez transits this week after nearly three years avoiding the Red Sea. According to shipping consultancy Linerlytica, the carrier will deploy the 16,556 TEU vessels Ever Eon and Ever Edit on November 7 and 11 respectively, within the Ocean Alliance's NEU7/CES service, while the 20,124 TEU vessel Ever Gifted will join on November 16 on the same alliance's MD2 Mediterranean service.
The rest of the alliances move forward
Within the Ocean Alliance, partners CMA CGM, Cosco and OOCL had already restored their services via Suez ahead of Evergreen. Meanwhile, the Premier Alliance, made up of Ocean Network Express, HMM and Yang Ming, is preparing to restore additional services to the Mediterranean through the canal.
Zim increasingly isolated
Maersk and Hapag-Lloyd announced that the ME1 service of their Gemini Cooperation, which connects India with Europe, will stop operating via the Cape of Good Hope, with a first westbound departure from Salalah. According to Linerlytica, against this backdrop Israeli carrier Zim remains the main operator still avoiding the Red Sea, at a time when Yemen's Houthis have specifically flagged Israel-linked vessels as potential targets in the area.
Impact on available capacity
The large-scale return to Suez has implications for the sector's capacity supply: nearly 3.4 million TEU of containership capacity transited the canal in the four weeks leading up to late October. Earlier this year, consultancy Xeneta had estimated that a full return to Suez could free up between 6% and 8% of global containership capacity, just as a new wave of newbuildings is about to enter service.
