{"id":75996,"date":"2024-01-09T00:00:00","date_gmt":"2024-01-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/01\/09\/chinas-cosco-shopping-halts-shipping-to-israel-amid-red-sea-attacks\/"},"modified":"2024-01-09T00:00:00","modified_gmt":"2024-01-09T00:00:00","slug":"chinas-cosco-shopping-halts-shipping-to-israel-amid-red-sea-attacks","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/01\/09\/chinas-cosco-shopping-halts-shipping-to-israel-amid-red-sea-attacks\/","title":{"rendered":"China\u2019s Cosco Shopping halts shipping to Israel amid Red Sea attacks"},"content":{"rendered":"

Chinese state-owned <\/strong>Cosco Shipping Lines<\/a><\/strong> has halted shipping to Israel<\/strong>, Reuters<\/a> reports, citing Israeli financial news outlet Globes<\/a>. The decision comes as unrelenting Houthi attacks push major carriers to suspend transits<\/a> in the Red Sea. Cosco officials in Israel did not comment on the report and Israeli port officials said they were looking into the update.<\/p>\n

The decision is a major blow to Israel:<\/strong> Cosco will affect its partnership with Israeli shipping line ZIM<\/a>, pushing ZIM to devote more of its ships to East Asian routes and increase shipping costs due to a shortage of vessels, the Israeli news outlet writes. The decision will also affect Haifa\u2019s port, which is operated by China\u2019s state-owned port operator SIPG<\/a>. Haifa is dependent on visits from Cosco vessels, the outlet said, and will accordingly see its turnover fall.<\/p>\n

D<\/strong>isruptions in the Red Sea have caused shipping volumes in the Suez Canal to drop 28% <\/strong>y-o-y<\/strong> for the week ending Sunday, <\/strong>according to tracking by the International Monetary Fund\u2019s PortWatch<\/a> platform. Journeys are Africa\u2019s Cape of Good Hope saw a 63% y-o-y boost for the same period, PortWatch data showed. The trend is attributed to global carriers rerouting traffic<\/a> away from the Red Sea and around the Cape of Good Hope, with the diversion entailing higher shipping costs and longer transit times. <\/p>\n

Pakistan bolsters its naval presence in the region: <\/strong>Pakistan has deployed additional ships to the Arabian Sea to establish a continuous presence in the sea lane in response to recent attacks in the region, according to a Pakistan Navy statement (watch, runtime 00:33<\/a>). The navy will maintain 2-3 ships in the Arabian Sea to patrol avenues used by Pakistan-bound and international shipping, the statement said.Pakistan\u2019s new presence follows a 26 December Houthi-led attack against an MSC vessel en route to Karachi, Pakistan from KSA, according to a company statement<\/a>.<\/p>\n

MORE DISRUPTION<\/strong> IN EUROPE- EU sanctions on Iran\u2019s Central ins. have seen Iranian <\/strong>truck drivers stuck at EU borders \u2014 with the exception of Italy \u2014 due to visa issues<\/strong>, Iran International<\/a> reports, citing comments by Transportation Commission of the Iranian Chamber of Commerce head Reza Rostami. This will result in longer waiting times at borders, hindering the movement of goods, Rostami added.<\/p>\n

AND FURTHER AFIELD IN AUSTRALIA-<\/strong>DP World has put its foot down following more <\/strong>industrial action:<\/strong> The Maritime Union of Australia (MUA)<\/a> has called for another round of strikes at DP World\u2019s<\/a> terminals in Australia, with DP World responding that it will no longer tolerate partial work bans at its facilities, Daily Cargo News<\/a> reported. DP World Australia has warned that employees taking part in partial work banks will not be entitled to payment until they are ready and willing to perform \u201call of their normal duties,\u201d according to a letter sent to customers that was picked up by Daily Cargo News. <\/p>\n

The labor dispute has been ongoing for months, costing USD bns: <\/strong>Strikes have been ongoing since October 2023<\/a>, following the collapse of negotiations for a new enterprise agreement. The \u201congoing industrial action threatens to severely damage trade-reliant industries across the country,\u201d DP World told customers in its letter, with disruptions costing the company some USD 84 mn a week, or USD 1.34 bn since industrial action began, the company said.<\/p>\n

DP World is urging Australia\u2019s government to intervene: <\/strong>The company hashighlighted the risk of ongoing strikes to the country\u2019s export-oriented industries. \u201cOngoing industrial action threatens to severely damage trade-reliant industries across the country\u201d DP World said in a statement. DP World has also called on affected industries to make protests to parliamentarians, in a bid to leverage political pressure against MUA\u2019s strikes.<\/p>\n

IN OTHER NEWS- A c<\/strong>yberattack hits Beirut\u2019s airport:<\/strong> Beirut\u2019s Rafic Hariri International Airport\u2019s electronic departure screens were hacked on Sunday evening, displaying a message urging Lebanon\u2019s Hezbollah group not to drag the country into war, Lebanon\u2019s National News Agency<\/a> (NNA) reported. The disruption affected baggage claims at the airport, NNA said.<\/p>\n

Not cool, Lebanon says:<\/strong> \u201cHacking the electronic boards at Rafic Hariri International Airport is reprehensible and unacceptable, and constitutes a massive security breach of the airport\u2019s security and the security and safety of passengers,\u201d Lebanese parliamentarian Fouad Makhzoumi said<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"

Suez Canal transit volumes saw a drop as ships rerouted<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[127],"tags":[126,163,119,164,123,196,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-75996","post","type-post","status-publish","format-standard","hentry","category-disruption-watch","tag-disruption-watch","tag-dop-world","tag-iran","tag-lebanon","tag-shipping-maritime","tag-suez-canal-economic-zone","tag-uae","wpautop","entry"],"acf":{"mongo_id":"2706e874-2635-4f81-8ca6-cfccdb478dd6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/427.jpg,https:\/\/twitter.com\/fmakhzoumi\/status\/1744048434011673040\/photo\/1","photo_position":"above","homepage_title":"","full_issue_title":"China\u2019s Cosco Shopping halts shipping to Israel amid Red Sea attacks","related_issue":[75991],"teaser":"Suez Canal transit volumes saw a drop as ships rerouted","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.1fd2f153-14d4-4142-8ec2-829b617be41a.mp3"},"yoast_head":"\nChina\u2019s Cosco Shopping halts shipping to Israel amid Red Sea attacks - 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