Chinese state-owned shipping giant COSCO Shipping has stopped visiting Israeli ports, “Globes” has learned. The company, the fourth largest container shipping line in the world, with about 11% of world trade, decided on this step even though it is not much threatened in the Red Sea, because of the very fact that it is Chinese, and because of China’s ties with Iran, the patron of the Houthi rebels in Yemen.

Besides the effect on trade between the Far East and Israel, COSCO’s decision is significant because it cooperates with Israeli shipping line ZIM, which will have to operate more ships on the Far East routes, which is liable to will lead to higher shipping costs, since XIM will be short of ships.

https://en.globes.co.il/en/article-chinese-shipping-giant-cosco-to-stop-visiting-israeli-ports-1001467115