Cosco Shipping Company Halts Vessels from Docking in Israel
China’s giant shipping company Cosco has announced suspension of all Israel-bound vessels, joining the ever-growing list of shipping companies halting shipments to the Israeli Regime, following Yemen’s pro-Palestine maritime war in the Red Sea.
Cosco currently stands at the fourth largest shipping firm in the world and even holds 11% of the trade market share.
Last year, Cosco’s new shipping route delivered China-made vehicles to the occupation entity through the port of “Eilat” (Occupied Umm al-Rashash).
The Israeli Economy will be drastically affected from Cosco’s suspension. Back in 2023, the occupation entity soared as the third largest destination for Chinese automobile exports. China-made vehicles summed up to 17.47% of all deliveries in the Chinese markets last year alone, a giant leap from 4.8% in 2022.
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