The disruption in the Strait of Hormuz is proving both costly and profitable for container shipping, with Gemini Cooperation partners Maersk and Hapag-Lloyd reporting sharply higher operating costs alongside stronger earnings.
The increased costs are largely due to the need for additional security measures and insurance premiums, while the stronger earnings are driven by the surge in demand for container shipping services as a result of the disruption. This has led to higher rates for Maersk and Hapag-Lloyd, with the two companies benefiting from the increased demand.