COSCO Shipping Resumes Bookings from Gulf Countries; Vessels Temporarily Bypass Strait of Hormuz

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Goldman Sachs reports that on March 25, COSCO Shipping Lines announced that it will resume new booking services for the Middle Eastern Gulf countries, including the United Arab Emirates, Saudi Arabia, Bahrain, Qatar, Kuwait, and Iraq, starting immediately (for general containers). Resuming shipments does not mean that COSCO’s container ships can pass through the Strait of Hormuz. Several COSCO personnel stated that the ships will not pass through the strait for now. Instead, similar to the previous CMA CGM plan, containers will first be shipped by sea to the port of Salalah in Oman on the east side of the strait; then to the ports of Jebel Ali and Fujairah in the UAE, and Jeddah in Saudi Arabia, after which the containers will be transferred by land to these countries. (Caixin)

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