US EditionChina's Top Shipper Resumes Middle East Trips Amid Iran Ceasefire Talks
COSCO resumed container bookings to six Gulf countries after a three-week halt due to Middle East conflict, handling over 10% of global seaborne freight, company said.
- On Wednesday, COSCO Shipping Lines resumed container bookings from the Far East to United Arab Emirates, Saudi Arabia, Bahrain, Qatar, Kuwait, and Iraq, handling over 10 percent of global seaborne freight.
- Container ship and tanker traffic in the Persian Gulf has fallen over 90 percent since Iran effectively closed the Strait of Hormuz to non-Iranian vessels three weeks ago.
- According to the International Maritime Organization, Iran recently stated that "non-hostile vessels" may now transit the waterway; COSCO previously instructed vessels already in the Gulf to seek "safe waters" during the closure.
- President Donald Trump claims the United States and Iran are engaged in ceasefire talks, with his administration reportedly sending a 15-point peace plan to Tehran.
- A U.S. military buildup continues in the Central Command area with troop levels expected to reach approximately 50,000, even as the firm warned booking arrangements remain subject to change due to regional volatility.
16 Articles
16 Articles
China's Top Shipper Resumes Middle East Trips Amid Iran Ceasefire Talks
COSCO Shipping Lines, China's largest shipping company, has officially resumed new booking services for container shipments from the Far East to several key Middle Eastern destinations, with the United States and Iran currently engaged in ceasefire talks, despite statements by Tehran that the U.S. military is "negotiating with itself”. COSCO has reinstated bookings for standard general cargo containers to Saudi Arabia, United Arab Emirates, Bah…
COSCO resumes Gulf bookings
The container shipping industry’s response to the fourth week of the Persian Gulf war shifted in a more optimistic direction on Wednesday as China’s state-backed COSCO Shipping Lines announced the resumption of new booking services for ordinary freight containers from the Far East to the Middle East, effective immediately — reversing a suspension imposed on …
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