French Shipping Giant CMA CGM To Keep Avoiding Red Sea

Shipping executives remain cautious about a return to the Red Sea, where Iran-backed Houthis have carried out more than 100 attacks on ships since November 2023, leading most shipping companies to divert vessels to other routes.

CMA-CGM said in a statement the improved stability was “a positive but fragile sign” for the industry, and safety was a priority.

“Given the ongoing tensions and associated risks for commercial vessels in certain areas, CMA CGM will for time being continue to prioritise alternative routes, including a significant reliance on passage via the Cape of Good Hope,” the statement said.

It added that adjustments to the policy could be made on a case-by-case basis depending on security and global operational conditions.

(Reporting by Leigh Thomas, editing by Barbara Lewis)