French shipping and logistics group CMA CGM will continue to avoid the Red Sea even though it considers the region is more stable following the ceasefire agreement between Israel and Hamas, it said on Saturday.
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.