CMA CGM, global carriers suspend Gulf transits on security fears

Following military strikes and retaliatory attacks in the Middle East, shipping companies direct vessels to safe harbor near the Strait of Hormuz, a key global oil passage. Shutterstock.
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Updated 01 March 2026
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CMA CGM, global carriers suspend Gulf transits on security fears

RIYADH: Shipping and logistics across the Middle East were disrupted after major carriers halted routes and ordered vessels to seek shelter following joint US-Israeli attacks on Iran and Tehran’s warning restricting transit through the Strait of Hormuz.

Adding to the turmoil, operations were temporarily suspended at the Jebel Ali port in Dubai, the largest container port in the Middle East.

According to a customer notice seen by Bloomberg, DP World halted activities at all of Jebel Ali’s terminals as a precautionary measure.

The disruption followed a fire on a berth caused by falling debris from an aerial interception, which Dubai’s Media Office confirmed on X early on March 1, noting that Civil Defense teams were working to extinguish the blaze.

At least 150 tankers, including crude oil and liquefied natural gas vessels, dropped anchor in open Gulf waters beyond the Strait of Hormuz, while dozens more were stationary on the other side of the chokepoint, shipping data showed on March 1, Reuters reported.

The tankers were clustered in open waters off the coasts of major Gulf oil producers, including Iraq and Saudi Arabia, as well as LNG giant Qatar, according to Reuters estimates based on ship-tracking data from the MarineTraffic platform.

This comes as French shipping giant CMA CGM instructed vessels operating in the Gulf to move to safe shelter and suspended some Suez Canal transits as security risks escalated along one of the world’s busiest trade routes.  

In a parallel move, MSC Mediterranean Shipping Co. announced it was halting all bookings for worldwide cargo to the Middle East region until further notice. In a statement, MSC said it continues to closely monitor the volatile situation and is working with relevant authorities to ensure the safety of its operations, adding that bookings to the Middle East will resume as soon as the security situation improves.

Danish shipping company Maersk also announced route changes, citing the “deteriorating security situation” following the escalating military conflict. The firm stated it would pause all future Trans-Suez sailings through the Bab el-Mandab Strait, rerouting its ME11 and MECL services around the Cape of Good Hope.

Furthermore, Maersk has suspended all vessel crossings in the Strait of Hormuz until further notice, warning that services calling at ports in the Arabian Gulf may experience significant delays, rerouting, or schedule adjustments.

Maersk clarified that acceptance for cargo to the Middle East area remains open, prioritizing the safety of its crews, vessels, and customers’ cargo.

The Strait of Hormuz, a narrow waterway between Iran and Oman, is one of the world’s most critical energy chokepoints, carrying about 30 percent of global oil supplies along with significant volumes of liquefied natural gas.

The world’s third-largest container line said all vessels currently inside or bound for the Persian Gulf had been instructed to proceed immediately to safe shelter, while certain canal transits were halted until further notice and ships were rerouted via the Cape of Good Hope, according to a statement.

The precautionary move comes as shipping companies reassess operations across the region following military strikes and retaliatory attacks that have heightened security risks along critical maritime corridors linking Asia, Europe, and the Middle East.

“This decision is dictated by safety considerations and is made in compliance with our Bill of Lading Terms and Conditions,” the statement said.

It added: “Customers will be contacted as soon as we have more details of the possible alternative ports where their cargo could be discharged.”

The UK Maritime Trade Operations warned that the regional maritime security environment remains unstable, citing heightened military activity across key shipping lanes.

“The maritime security environment across the Arabian Gulf, Gulf of Oman, North Arabian Sea, Bab al Mandab and the Strait of Hormuz remains highly volatile, with ongoing regional military activity contributing to an elevated threat to commercial shipping,” UKMTO said in an advisory.

The agency added that mariners should expect disruption to navigation and communications systems.

UKMTO said there is “significant military presence and activity across the region” and warned vessels of an increased risk of miscalculation or misidentification near sensitive maritime infrastructure.

Despite circulating reports, the agency said “no official closure of the Strait of Hormuz has been formally communicated to the maritime industry through recognized maritime safety channels.”

Separately, Japanese shipping companies have also begun restricting movements near the Strait of Hormuz, Reuters reported.

Nippon Yusen instructed vessels to halt transit in the area on Feb. 28, while Mitsui O.S.K. Lines said its ships were remaining in safe waters, citing crew and cargo safety as its top priority.  

Kawasaki Kisen Kaisha said several of its vessels in the Persian Gulf were placed on standby, noting that, unlike other maritime routes, there are limited diversion options for ships operating near the strait.

“Until the situation stabilizes, we will not attempt to send vessels through the strait, nor dispatch additional ships towards the area,” a spokesperson said.

German shipping group Hapag-Lloyd has also suspended all vessel transit through the Strait of Hormuz until further notice because of the evolving security situation, it said.

This comes as a Palau-flagged oil tanker was hit off Oman’s Musandam peninsula on March 1, injuring four crew members, the country’s Maritime Security Centre said, following drone strikes on the Gulf nation’s commercial port of Duqm, Reuters reported.

The incidents mark the first time targets in or near Oman have been struck since Tehran launched retaliatory attacks across Gulf states after joint US-Israeli strikes on Iran.

The 20-member crew of the Skylight tanker was evacuated after the attack, which occurred about five nautical miles north of Khasab Port in Musandam, according to the maritime authority in a post on X. The centre did not specify what hit the vessel but said four crew members, among them 15 Indian and five Iranian nationals, suffered injuries of varying severity.

Oman’s Musandam peninsula shares control of the Strait of Hormuz with Iran, a strategic chokepoint through which roughly one-fifth of global oil consumption passes.


Gold slips over 1 percent on strong dollar, easing rate-cut bets

Updated 12 March 2026
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Gold slips over 1 percent on strong dollar, easing rate-cut bets

  • Chile central bank issues first gold purchase in decades
  • BMI expects silver to average $93/oz in 2026

Gold prices fell more than 1 percent on Thursday, pressured by a stronger dollar and diminishing hopes for a reduction in borrowing costs as the ongoing Iran war stoked inflation concerns.
Spot gold dipped 1.1 percent at $5,118.16 per ounce by 1:31 p.m. ET (1731 GMT). US gold futures for April delivery settled 1 percent lower at $5,125.80.
The dollar gained for a third consecutive session. The greenback is a competitive ‌safe-haven asset, and ‌a stronger US currency makes gold more ​expensive ‌for ⁠holders ​of other currencies.
“The ⁠higher dollar index, rising treasury yields and lack of interest-rate cuts are the negative factors, but the conflict in the Middle East has been generating some safe-haven flows,” said Phillip Streible, chief market strategist at Blue Line Futures.
Two tankers were ablaze in Iraqi waters in an apparent escalation in Iranian attacks that have cut off ⁠Middle East energy supplies. In reaction, oil prices ‌rose sharply for the day.
Iran will avenge ‌the blood of its martyrs, keep ​the Strait of Hormuz closed and ‌attack US bases, new Supreme Leader Ayatollah Mojtaba Khamenei said.
Higher crude ‌prices feed into inflation by raising transportation and production costs. Gold is considered an inflation hedge, but high interest rates weigh on it by making yield-bearing assets more attractive.
“If they can prevent oil prices from climbing ‌further, gold should be in a good place... On the bullish side for gold, the main argument is ⁠that central ⁠bank buying and steady exchange-traded fund inflows, which have remained positive all year,” Streible added.
Chile’s central bank issued its first major gold purchase since at least 2000. In February, the bank boosted its gold reserves to $1.108 billion, up from $42 million in January, equivalent to 2.2 percent of total reserves.
Elsewhere, spot silver eased 1 percent to $84.90. Prices gained more than 146 percent last year.
Analysts at BMI wrote in a note they expect silver to average $93 per ounce in 2026, with strong investment demand consolidating the gains witnessed in 2025, and offsetting price-induced ​demand destruction in solar ​panels and jewelry.
Spot platinum lost 1.1 percent to $2,145.75, and palladium fell 1 percent to $1,620.86.