Navigating Turmoil: Hapag-Lloyd's Struggle in the Middle East

German shipping giant Hapag-Lloyd is encountering significant weekly expenses of $40-$50 million due to the ongoing Middle East conflict, according to CEO Rolf Habben Jansen.

Speaking from an online press conference, he highlighted the company's current challenge, with six vessels and 150 crew members stranded in the Persian Gulf. Supplies of food and water are reaching the crew as the company seeks a resolution.

Nevertheless, Habben Jansen maintains a steady outlook for 2026, projecting earnings between $1.1 billion and $3.1 billion, despite the disruption. Hapag-Lloyd is implementing cost-saving strategies, partially through cooperation with Maersk, while threats remain due to the Strait of Hormuz's closure.