Shipping giant CMA CGM is suffering losses due to the conflict in the Red Sea
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French shipping company CMA CGM, which deals mainly with maritime container shipping, posted its first quarterly loss in four years as the shipping industry grapples with the conflict in the Red Sea.
About this writes Bloomberg.
It said the French company reported a loss of $93 million in the last three months of 2023, compared with a profit of $3.04 billion a year earlier.
“Much of the world’s merchant fleet has been avoiding the Red Sea and Suez Canal since mid-December, following a series of attacks on ships by the Yemeni Houthis. The situation in the region has become even more volatile after the US and UK launched airstrikes against the militants’ positions on land.” – the message says.
CMA CGM was one of the last major carriers to suspend flights in the conflict zone, where a cargo ship caught fire this week after a missile attack.
Also read: Yemeni Houthis are killing trade. What threatens the conflict in the Red Sea?
We will remind:
At the end of January, the tanker company “Trafigura”, which, according to company representatives, transported oil of Russian origin was attacked by the Houthis in the Red Sea.
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