Recent turmoil in Mali's security situation has sparked turmoil in the shipping market. The world's third-largest shipping company,MA CGM, and the world's largest shipping company, Mediterranean Shipping, have made starkly different decisions on their operations in Mali.
According to Bloomberg, C CGM said it would continue to operate in the country despite the disruptions caused by armed militants.
CMA CGM issued a statement late Friday, following a meeting withian authorities, due to the deteriorating security situation and fuel shortages.
Previously, both CMA CGM and Mediterranean Shipping had said they would suspend services in the country to the worsening situation.
Mali, a landlocked country in West Africa, relies on ports in neighboring countries for its import and export trade, with the final leg cargo transport needing to be completed by road, and the shipping companies are responsible for the entire transport until the goods are delivered within Mali. Recently, truck drivers transporting fuel into Mal have been attacked frequently, leading to a tight supply of fuel in the country.
Mali is a major exporter of gold and cotton in Africa and is heavily dependent on for everything from food to equipment.
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