📢 COSCO SHIPPING announced on Wednesday that it will resume cargo bookings to the Gulf states of Saudi Arabia, Iraq, Kuwait, Bahrain, Qatar, and the UAE.
⏱️ This move coincides with Iran notifying the United Nations Security Council and the IMO that:
💬 "Non-hostile vesselsging to or associated with other States, may—provided that they neither participate in nor support acts of aggression against Iran and fully comply with the declared safety and security regulations—benefit from safe passage through the Strait of Hormuz in coordination with the competent Iranian authorities."
🛑 Currently, @COSCOSHIPPING no longer operates any direct services to the area connecting with either the Far East or Europe.
🌐 Within the OCEAN Alliance, only the 'MEA1' loop, operated by CMA CGM, continues to serve the Gulf from the Far East, while the 'MEA4' and 'MEA5' services have been suspended.
ℹ️ On the Europe–Middle East–Indian Subcontinent trade, outside the OCEAN Alliance, COSCO provides tonnage for the 'EPIC' loop. However, only @cmacgm vessels have recently continued calling at Middle Eastern ports. Similarly, the French carrier operates the 'MEDEX' service, on which COSCO takes slots.
🔮 Consequently, it remains to be seen whether the Chinese group will resume calls using its own assets or rely on partners to honor its transport commitments.
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