Container lines CMA CGM and Hapag-Lloyd have announced the temporary suspension of cargo bookings to and from Cuba following a new executive order by the Trump administration that significantly increases sanctions pressure on the island.
The order, signed on May 1, allows the U.S. government to freeze the assets of any foreign companies doing business with Cuban state entities or operating in key sectors of the Cuban economy. The wording effectively covers almost any economic activity, including shipping.
CMA CGM said it was halting all bookings “until further notice” due to the need to comply with U.S. regulations. Hapag-Lloyd confirmed a similar decision, citing “compliance risks.”
According to Reuters, the move by the two major container carriers could affect up to 60 percent of Cuba’s container traffic. The biggest impact is expected on shipments from China, as well as routes connected to Northern Europe and the Mediterranean.
Market sources said one of the main concerns for carriers is the need to verify whether cargo is linked to Cuba’s state-controlled conglomerate Gaesa, which is under U.S. sanctions.
Analysts believe the new restrictions will further isolate Cuba from global trade and investment. Shipping companies and international businesses may increasingly choose to avoid any exposure to the Cuban market in order to minimize sanctions-related risks.
