The shipping giant Cosco announced on Wednesday that he again accepts orders to transport cargo containers destined for respective Gulf states. Cosco suspended reservations for the region in early March in consequence to the mediate East War.
The Chinese company announced that it would resume accepting fresh bookings for bulk containers for transport to the United arabian Emirates, Saudi Arabia, Bahrain, Qatar, Kuwait and Iraq with immediate effect. However, the company added that due to the unstable situation in the mediate East, fresh booking agreements and actual transport arrangements could be changed.
Iran will open Ormuz for “non-enemy ships”
The global Maritime Organisation (IMO) has previously announced that Iran will reopen the Ormuz Strait, linking the Persian Gulf to the Oman Gulf, and thus to the Indian Ocean, for ships that "are not participating in or supporting acts of aggression against Iran" and comply with certain safety regulations. According to a message from Tehran published by the IMO, these vessels will be able to flow through the key strait “in consultation with the applicable authorities”. Experts inactive consider the situation in the Strait to be critical – China, Pakistan and Iran may be among the beneficiaries.
Since the outbreak of the Iraqi-Iran War on 28 February, the Strait of Ormuz, which flows about 1 5th of the world's oil and liquefied natural gas flow (LNG), has been effectively shut down by the Iranian military. Iran besides fired on oil and tankers installations in respective Gulf countries. This has led to a sharp emergence in oil and gas prices worldwide, and due to rising fuel costs, has put political force on Trump.
