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Bond Market News
DPW, CMA CGM and Other Shipping Companies’ Bonds Tick Lower
March 4, 2026
Shipping and logistics across the Middle East have been significantly disrupted following escalating military tensions after Iran shut the Strait of Hormuz, a key global energy chokepoint. While real esate developers in the gulf were impacted the most due to the tensions, bonds of logistics companies like DP World, CMA CGM and others also fell.
For instance, DP World’s 5.5% 2033s dropped by 2 points since start of the week and currently trades at 101.8, yielding 5.2%. CMA CGM’s EUR 5% 2031s are trading weaker by over 0.5 points at 100.6, yielding 4.9%.
Major shipping companies across the Gulf region halted routes, rerouted vessels, and suspended bookings and cargoes. Port operator DP World paused terminal activities as a precaution. CMA CGM instructed vessels in the Gulf to seek safe shelter and halted some Suez Canal transits. MSC Mediterranean Shipping suspended all cargo bookings to the Middle East until further notice. Maersk paused crossings through both the Strait of Hormuz and the Bab el-Mandab Strait. Maritime security agencies warned that the regional environment remains highly volatile, with heavy military activity increasing the risk of misidentification or accidents affecting commercial shipping. CMA CGM also introduced an emergency conflict surcharge of $2,000–4,000 per container for cargo moving through key Middle Eastern shipping routes. The surcharge took effect on March 2 and applies to cargo bookings involving 13 countries, including the UAE and Egypt. The company said the measure intends to protect crews, vessels, and cargo, and to address the heightened operational risks in the region.
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