CMA CGM Plans 'Gradual Increase' in Use of Suez Canal Despite Red Sea Attacks

CMA CGM is the world's third-largest container line by capacity. File Image / Pixabay

French container line CMA CGM is planning gradually to increase the number of its vessels using the Suez Canal despite recent attacks on commercial shipping in the Red Sea.

The firm is currently developing a plan for the change, it said in a note to customers on its website on Tuesday.

Several leading shipping companies announced over the past two weeks that they would be avoiding the Red Sea after recent attacks from Yemen's Houthi movement. But on Sunday AP Moller-Maersk said it was preparing to reverse that decision, and others may follow.

"Some vessels have made the transit through the Red Sea," CMA CGM said.

"This decision is based on an in-depth evaluation of the security landscape and our commitment to the security and safety of our seafarers.

"We are currently devising plans for the gradual increase in the number of vessels transiting through the Suez Canal.

"We are monitoring the situation constantly and we stand ready to promptly reassess and adjust our plans as needed.

"Advanced security procedures are in place to ensure the safety of the crew and vessel, our number one priority in handling the challenging situation in the Red Sea area."

CMA CGM vessels have reportedly been escorted through the area by French warships in recent days, and Maersk vessels have been observed receiving similar assistance from the US.

The extent to which this escort service can be applied more widely remains to be seen, and the risk level to ships in the area remains high. An MSC vessel was targeted by Houthi missiles on Tuesday.

The container industry en masse avoiding Suez and taking longer routes around Africa would add 2% to global bunker demand, according to a Ship & Bunker analysis, and this figure could be doubled if tankers and bulkers took the same decision.

CMA CGM is the world's third-largest container line by capacity.