China’s Cosco Resumes Gulf Cargo Shipments
According to a company release, customers can now book shipments of general cargo containers from Far Eastern countries to the United Arab Emirates, Saudi Arabia, Bahrain, Qatar, Kuwait, and Iraq.
The announcement also cautioned that all new bookings and deliveries could still be altered due to the volatile conditions in the Middle East.
While the statement did not indicate any restart of fuel trading or tanker bookings, market analysts suggested that this action might reflect a partial agreement with Iran, facilitating safer navigation through the Strait of Hormuz.
Earlier this month, Cosco had halted cargo operations to and from several Gulf states, attributing the suspension to rising tensions in the region.
Shipping flows through the Strait of Hormuz—a vital corridor for global commerce and energy—had been significantly interrupted amid increasing hostilities in the Gulf, triggered by US and Israeli strikes on Iran and subsequent Iranian counterattacks.
The strait, which links Saudi Arabia, the UAE, Kuwait, Qatar, Iraq, and Iran to international markets, manages around 25% of worldwide oil shipments, approximately 20% of liquefied natural gas transport, and nearly 30% of global fertilizer trade.
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