Q: What is the status of the ZIM transaction?
A: "We have entered into a binding merger agreement with ZIM in February, which has been approved by the Company’s shareholders. We are currently working with the variousregulatory bodies to obtain the necessary approvals."

Q: Why does the company still believe the transaction makes strategic sense?
A: "The deal rationale is pretty clear: securing our position in the market, get access to an efficient and modern fleet, access to a great team and a broad customer base. And of course, in the end, it's also about synergies, which we expect to be between 300 and 500 million dollars."

Q: Given the geopolitical environment, is now really the best time to be taking over an Israel liner company?
A: “If you look at consolidation in an industry, sometimes there are opportunities and then you have to decide whether you want to engage or not. And we decided to engage. We think that the combination of Hapag-Lloyd and ZIM is very powerful and good for everyone.”

Q: There are reports of renewed threats against vessels calling at Saudi Arabian ports. How is Hapag-Lloyd responding?
A: "Since the beginning of the tensions in the Middle East, we have continuously assessed all operational decisions on the basis of a comprehensive evaluation of the security situation. The safety of our seafarers and vessels, as well as the protection of our customers’ cargo, remain our highest priorities.
The vast majority of our services continue to be routed around the Cape of Good Hope. Our vessels are also not transiting the Strait of Hormuz until further notice. We continue to serve markets in the Gulf region through alternative transport solutions, including transshipment connections, third-party feeder services and land bridges involving locations such as Jeddah, Salalah, Khorfakkan and Sharjah.”

Q: What could possible further measures mean for Hapag-Lloyd?
A: "We do not speculate on possible future measures or their potential impact. We are prepared to adjust routes and schedules at short notice if necessary. The structure of the Gemini network provides us with additional flexibility to offer stable and reliable transport solutions to our customers, even in a volatile operating environment.

Q: What role does the Red Sea currently play for Hapag-Lloyd? Are vessels still operating in the region?
A: "The Red Sea currently plays only a limited role in our overall network, as the vast majority of our services continue to be routed around the Cape of Good Hope. Nevertheless, the Red Sea remains an important route for global trade.
The SE3 service within the Gemini network is currently routed through the Red Sea and the Suez Canal, using vessels operated by our Gemini partner Maersk. This decision was taken following a careful assessment of the security situation. We continue to monitor developments closely and will adjust the network if circumstances change. The safety of the crews and vessels, as well as the protection of the cargo, remain the determining factors."

Q: Is the land connection across Saudi Arabia still operating, and what impact could the Houthi threat have on this service?
A: "The existing land-bridge solution from Jeddah to Dammam and Jubail remains part of our alternative transport solutions. For other destinations in the Gulf region, we use additional alternative routes depending on operational feasibility, including transshipment connections, feeder services and inland transportation.
Further information is available in our Middle East Live Ticker.

Q: What is the current status of Hapag-Lloyd vessels that were affected by the temporary closure of the Strait of Hormuz?
A: "All Hapag-Lloyd vessels that were affected by the temporary closure of the Strait of Hormuz and had been waiting in the Persian Gulf to depart, have since safely left the Gulf. This was only done after careful assessment of the security situation and in close coordination with the relevant authorities, security partners and our teams on board and ashore. For security reasons, we will not comment on individual vessel names, routings or exact timings."

Q: How quickly could operations return to normal if the Strait of Hormuz reopens?
A: “If the Strait of Hormuz reopened, most ships could probably leave the region fairly quickly. However, restoring normal cargo flows would take much longer. Services have been suspended and ships redeployed elsewhere, so a return to normal flows would most likely take three to four months.”

Q: What is the current impact on container transport into the Gulf region?
A: “Container trade into the Gulf has been significantly affected. Many countries in the region depend on container traffic for supplies from around the world. While cargo is still moving via alternative land bridges, overall volumes into the region are clearly down - realistically by around 60 to 80 percent.”

Q: Are alternative land routes able to replace regular maritime connections into the Gulf?
A: “The alternative routes are mainly truck-based and their capacity is limited. The infrastructure in the region was not built to replace regular maritime flows at this scale. Distances from alternative ports to final destinations are long, and land-side capacity cannot fully compensate for the loss of normal ocean connections.”

Q: What does the crisis show about Hapag-Lloyd’s network resilience?
A: “This crisis has shown that our network is resilient. The impact on the rest of our global network has been limited, and the hub-and-spoke structure we operate in Gemini together with Maersk has again proven to be robust. It underlines that such a structure can be more resilient than purely point-to-point operations.”

Q: Why did Hapag-Lloyd and Maersk decide to reroute the SE3 service through the Red Sea instead of via the Cape of Good Hope?
A: We made our joint decision between Maersk and Hapag-Lloyd after thorough assessments of the security situation in the Red Sea area to reroute the SE3 service through the Red Sea instead of transiting via the Cape of Good Hope. It is a gradual step for this specific service, not a full return of the network. The safety of crews, vessels and customers’ cargo remains the deciding factor.

Q: How do you assess the discussion around overcapacity in container shipping?
A: "Global trade continues to grow at a solid pace, by around 6.5% in 2024, with approximately 5% growth expected for 2025. Against this backdrop, the frequently cited issue of overcapacity needs to be put into perspective."

Q: What is your outlook for ship recycling in the coming years?
A: "We expect recycling to increase noticeably in the second half of the decade. Many older vessels are still tied to long-term charters that expire between 2026 and 2028. Once those contracts run out, we’ll see more ships leave the market. The industry remains cyclical, so 2028–29 could be more challenging depending on how demand develops."

Q: How do you assess current market demand despite weaker economic indicators in Europe?
A: "When we look at volumes and also if we look at demand, that still looks strong. We don't see any real softening in demand for cargo at this point, and when we talk to customers, most of them expect a pretty decent peak season."

Q: Are you concerned about structural overcapacity in 2026 and 2027?
A: "I think that risk is always there to some extent. I would say though that risk is actually lower than we probably thought one or two years ago because we've seen such strong growth on a number of these dominant legs."