China’s Largest Shipper Suspends Visits To Israeli Ports As Red Sea Tensions Increase

Containers of Chinese companies China Shipping and COSCO (China Ocean Shipping Company) are loaded on a container as it is leaving the port in Hamburg, Germany March 11, 2020. REUTERS/Fabian Bimmer/File Photo  

CNBC: China’s largest shipper reportedly suspends trips to Israel as Red Sea tensions mount 

* Chinese state-owned shipping giant Cosco suspended shipping to Israel through the Red Sea as tensions in the strategic shipping lane continue to mount, Israeli state media reported. 

* The specifics of Cosco’s decision remains undisclosed, according to Israeli financial news outlet Globes. 

Chinese state-owned shipping giant Cosco suspended shipping to Israel through the Red Sea as tensions in the strategic shipping lane continue to rise, Israeli state media reported. 

The specifics of Cosco’s decision remain undisclosed, according to Israeli financial news outlet Globes. 

Attacks on ships traversing the Red Sea by Iran-backed Houthi militants have pushed ocean freight rates higher and led to longer shipping journeys as shippers reroute to travel the long way around South Africa’s Cape of Good Hope instead.  

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Update #1: Chinese shipping giant COSCO to stop visiting Israeli ports (Globes)  

Update #2: Shipping Giant Halts Container Ship Sails To Israel (Zero Hedge)  

WNU Editor: If Houthi attacks continue, do not be surprised if more shippers drop Israel as a client.

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