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.
If you value our journalism…
TMJ News is committed to remaining an independent, reader-funded news platform. A small donation from our valuable readers like you keeps us running so that we can keep our reporting open to all! We’ve launched a fundraising campaign to raise the $10,000 we need to meet our publishing costs this year, and it’d mean the world to us if you’d make a monthly or one-time donation to help. If you value what we publish and agree that our world needs alternative voices like ours in the media, please give what you can today.