04.03.2026 14:21
After Iran closed the Strait of Hormuz, maritime trade was disrupted, and China's largest shipping company, COSCO, suspended all its services to and from the Gulf due to security risks.
The decision of Iran to close the Strait of Hormuz following the ongoing war between the US-Israel and Iran has caused a serious shock in global trade. One of the world's largest shipping companies, the Chinese state-owned company COSCO Shipping, announced that it has suspended all its services to and from the Gulf.
SECURITY CONCERNS AT SERIOUS LEVELS
It is stated that the company's decision was made due to the increasing military risks in the region and security concerns in the Strait of Hormuz. After Iran halted transit through the strait, tanker and commercial vessel traffic was largely disrupted, and many international shipping companies began to withdraw their ships from the region.
The Strait of Hormuz, a critical transit point for global energy trade, is known as a strategic route through which approximately 20% of the world's oil shipments pass. The closure of the strait poses serious risks, especially for energy shipments to Asian countries.
WAR TRADE HAS ALSO BEEN SEVERELY AFFECTED
According to experts, COSCO's suspension of Gulf services shows that the war in the Middle East is creating significant pressure not only on military aspects but also on global trade and supply chains. The development is also expected to have an impact on oil prices and international shipping costs.