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CMA CGM, the world's third-largest container shipping company, announced it has suspended all shipping bookings in the Middle East region due to the escalating conflict triggered by US and Israeli military operations against Iran and subsequent Iranian retaliatory actions. According to the company's official statement, effective immediately from March 3, 2026, and until further notice, all new cargo bookings to and from loading/unloading ports in Bahrain, Kuwait, Qatar, the United Arab Emirates (excluding Fujairah and Khor Fakkan), Saudi Arabia (excluding Jeddah, King Abdullah Port, Yanbu, and NEOM), and Iraq (Umm Qasr port) have been halted. This decision was made to ensure the safety of crew, vessels, and cargo in response to the targeting of tanker traffic in the Persian Gulf, restrictions in the Strait of hormuz, and increased general security risks; CMA CGM had previously restricted reefer (cold chain), hazardous materials, and some Suez Canal transits. This move follows similar decisions by other major carriers such as MSC, and while it is causing serious disruptions to global supply chains, it is rapidly increasing freight costs due to alternative routes (e.g., around the Cape of Good Hope) and additional war risk fees; experts expect permanent disruptions to oil prices and international trade flows if the conflict continues.
#USIranTensionsImpactMarkets
#OilPricesSurge