Despite the attacks, CMA CGM continues to operate in the Red Sea
A leading shipping analyst noted that CMA CGM clearly uses a different approach to risk assessment and tolerance than other global shipping companies. This view was confirmed by CMA CGM in an email to the media, despite the recent drone attacks on its ships in the Red Sea in July and August, the French shipping company continues to send ships and container cargoes through the highly volatile waters and the Suez Canal.
The most recent attacks on CMA CGM ships came in July and August, when two of the group's ships were struck by drones in the Red Sea, setting some containers on board on fire. One of the most recent drone attacks on a ship occurred on August 3, when the Groton was struck by a drone, setting some of the ship's containers on fire. On July 19, another ship owned by CMA CGM, the Lobivia, was also hit by a drone. Yet despite such security threats, CMA CGM continues to send ships and container cargoes through the volatile waters and the Suez Canal.
In response to media inquiries, CMA CGM said a small number of ships still pass through the Red Sea today escorted by French or European frigates. However, to avoid potential risks, most ships have been diverted via the Cape of Good Hope. However, CMA CGM did not disclose the specific number of ships or how often they cross the Red Sea and Suez Canal.
The Red Sea route is significant for CMA CGM as it is a faster route from Asia to the Mediterranean and Europe. However, the Red Sea region has been volatile for nearly a year, and Iran-backed Houthi rebels have been firing drones and missiles at international business flotilla since November, prompting international shipping companies to avoid shipping through the Red Sea.
Despite this, CMA CGM has chosen to continue operating in the region. The Red Sea incident required great flexibility and was an operational challenge for the group and the industry as a whole. However, the safety of seafarers, ships and customers' cargo is always the Group's top priority.
Shipping analyst Lars Jensen said on LinkedIn that CMA CGM had been attacked several times during the Red Sea crisis, but that didn't seem to faze them. Cma CGM recommends that shippers, including those who book with other carriers and load on CMA CGM Marine vessels, ensure that their insurance covers transportation in the region.
In addition, CMA CGM did not provide the media with specific information on which routes can still cross the Red Sea and Suez Canal. However, navigation information on the group's website shows that its routes have recently been expanded to more routes beyond BEX2. This includes FAL1 routes, MEX routes and LMX routes.
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On the FAL1 route, CMA CGM Rossini set sail from Jeddah for Jebel Ali on 15 October. In addition, the CMA CGM Jules Verne sailed from Asia to Jeddah via Djibouti on October 14 and made a stop in Djibouti, which is also part of the MEX route. In addition, the CMA CGM Navigantes, which operates the LMX route between the Middle East and the Mediterranean Sea, transits north from Djibouti on 7 October.
As to why CMA CGM chose to continue operating in the Red Sea, Lars Jensen, a shipping analyst, said that although the insurance premium for sailing through the region is quite high, it may mean that CMA CMA can use slightly fewer vessels, freeing up capacity for other uses. In addition, instability in the Red Sea and longer voyages around southern Africa have led to increased demand and improved earnings for shipping companies. Recently, Maersk and Hapag-Lloyd announced that they had raised their full-year guidance.
