Shipping company Cosco, the fourth largest global container shipping company, announced today (Sunday) that it is discontinuing its service to Israel, informing Israeli importers and exporters that it was ceasing to command the ports in the country, according to Ynet.
This decision is officially due to the Houthi threat to shipping through the Red Sea, even though there has been no actual attack by Houthis against Chinese ships.
Zim, the Israeli shipping company which is the operational partner for Cosco's trade routes, was apparently unaware of the company's intention to avoid Israel, and meetings are scheduled today (Sunday) on the matter. This decision is a blow to Zim's significant operational collaboration with the Chinese company.
Cosco is the largest maritime transportation company in Asia and has expanded to Europe, acquiring the Piraeus port in Greece in 2016. Its activity is divided into four main sectors: container shipping, terminal management, bulk carriers, and gas and oil tankers.
The company's announcement joins a series of moves by Chinese companies that have hit imports to Israel since the beginning of the Iron Swords War. Two weeks ago, it was reported that Chinese importers to the high-tech industry were essentially "imposing sanctions" on shipments to Israel due to components related to Israel's war in Gaza.
