​Red Sea reopening enters wait-and-see phase as carriers weigh risks

A fragile ceasefire and mixed signals from the region have put the Red Sea reopening into a wait-and-see phase. BBC Chartering is taking a measured approach, stressing that safety must be assured before any return, while Drewry warns that a gradual restoration of traffic through Suez could squeeze breakbulk carriers as competition intensifies with container lines.

BBC Chartering’s ceo, Ulrich Ulrichs, said the line is monitoring developments closely, but the threshold for resuming Red Sea transits remains high. “While conditions have improved, the peace process in Gaza and Israel is still fragile, and risks remain significant, as highlighted by the recent attack on a Spliethoff vessel,” he noted. The company is not facing customer pressure to re-enter the corridor, with time-sensitive shippers opting for carriers that never left the route –primarily Chinese operators.

Analyst Drewry said the Red Sea ceasefire is proving to be a wait-and-watch moment for breakbulk shipping; with container lines plotting a return, competition for general cargoes is likely to heat up. Project and heavy lift cargo, however, remains a sensitive space.