Major shipping lines CMA CGM and Hapag-Lloyd have announced that they have suspended all bookings to and from Cuba until further notice following an Executive Order from President Trump.
The Executive Order broadens current American sanctions on trade with Cuba to include “any foreign person” operating in the “energy, defense and related materiel, metals and mining, financial services, or security sector of the Cuban economy, or any other sector of the Cuban economy.” It is reported that the temporary suspension of services by the shipping lines could impact as much as 60% of Cuba’s shipping traffic by volume.
Shipping of goods from China, Northern Europe and the Mediterranean will be most impacted although all global shipping to Cuba may be challenged while the carriers decide whether to permanently halt shipping to Cuba or arrange a deal with the U.S. administration.
IAM Member Impact: With 116 countries having embassy staff in Cuba, options for shipping will become extremely limited unless any agreement is reached between the shipping lines and the United States.
Source: Reuters