CMA CGM reported that its security measures are sufficient to keep operating in the Persian Gulf region, following concerns over a possible dispute between Iran and major global powers, Reuters reports, although the shipping company halted its operations in Iran in 2018 following the US sanctions.
Yet, the company’s CEO and Chairman, Rodolphe Saade, stated that the company was still operating in the Persian Gulf.
During a business conference in Aix-en-Provence, Mr Saade stated that the company continues sailing in the Persian Gulf and they haven’t boosted their security measures, ‘because the measures we have in place are already sufficiently elevated.’
Following the attacks in the Persian Gulf, shipping companies as A.P. Moller-Maersk, Mediterranean Shipping Co (MSC), CMA CGM and German container group Hapag-Lloyd all informed customers that they would raise prices on Gulf-bound containers, Reuters informed.
Moreover, Mr Saade reported that the company’s overall business volumes were good, and weren’t affected from the tensions in the Middle East and the trade dispute between the US and China.
In May, CMA CGM reported a first-quarter net loss of $43 million, although group sales surged 36.9% to $7.41 billion, as earnings were impacted by slowing China-U.S. trade and higher lease costs.
