Shipping line goliath Maersk doesn’t see Suez Canal traffic picking up before the middle of the year, it said in a statement accompanying its financials for 2024. The world’s second-largest shipping line sees the canal welcoming back vessels in a major way by the end of the year.

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But there’s only so much you can predict in an unpredictable world — especially in the Middle East during a Trump presidency with the White House diverting from its alleged position in support of a two-state solution for ethnic cleansing and American colonial occupation of Gaza. Although the statement did not go into any specifics beyond a brief mention of the “situation in the Red Sea,” it pointed to “considerable macroeconomic uncertainties” that could affect its outlook for 2025.

CEO Vincent Clerc reiterated the shipping giant’s position in comments to reporters. “I don’t think we are close to making a change and going back into the Red Sea because there is so much uncertainty about the situation in the Middle East.”

The hoped for post-ceasefire resumption of traffic through the canal has yet to materialize, but there is reason to be positive, with a trickle of US- and UK-linked ships passing through the Red Sea safely after Yemen’s Houthis announced they would only target Israeli-linked vessels following the ceasefire agreement between Israel and Hamas. However, the small number of ships is just a drop in the bucket compared to the traffic levels the canal was used to, with shipping giants such as Maersk, MSC, and Mitsui OSK still avoiding the Red Sea as they cite security risks.

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