CMA CGM Vessel Navigates Hormuz as Crisis Remains ‘Localized' [Yahoo! Finance]
COSCO SHP HLDG UNSP/ADR (CICOY)
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Source: Yahoo! Finance
The Malta-flagged CMA CGM Kribi passed through the strait Thursday, according to the ship's automatic identification system (AIS) transponder data. CMA CGM Group is a French-owned corporation. More from WWD As Rivals Speedily Scale Their Apparel Production and Exports, Can India Catch Up? Amazon Imposes Fuel Surcharge on Sellers as War-Driven Costs Mount Pakistan's Ports Capitalize on Gulf Shipping Disruptions The Kribi carries roughly 5,500 20-foot equivalent units (TEUs) and is part of the container shipping firm's Midas1 network, which connects the Middle East, India and west Africa. A report from the Journal of Commerce said CMA CGM has secured assurances from Iranian authorities guaranteeing safe passage for its 14 container ships that have been trapped in the Persian Gulf for the duration of the conflict. Traffic through the Strait of Hormuz has largely ceased throughout the war due to concerns about the safety of vessels traveling through the area. At least 20 at
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