The Chinese shipping giant COSCO — known for its investments in Greece — has joined other major global carriers in directing vessels operating in or en route to the Persian Gulf to seek “safe waters.” This move follows a near-total halt in maritime traffic through the Strait of Hormuz, a critical maritime chokepoint, after the outbreak of conflict in Iran.
COSCO Joins Global Shipping Pause
Headquartered in Shanghai and state-owned, COSCO Shipping Lines is the latest among leading international shipping groups to suspend operations in the region. Others include Maersk and MSC, both of which have also announced temporary halts to their activities in the Gulf.
The Strait of Hormuz is one of the world’s most strategically vital sea lanes: roughly one-quarter of global oil and one-fifth of liquefied natural gas (LNG) shipments pass through it.
Operational Guidance Issued
In a statement released Sunday, COSCO Shipping Lines said: “Vessels already inside the Gulf are instructed, upon completion of their operations and subject to prevailing safety conditions, to proceed to safe waters to remain or anchor there.”
Ships bound for the Gulf have been advised to prioritize navigational safety — including by reducing speed or holding position pending further instructions for designated secure anchorage areas. COSCO is also reviewing emergency response plans for all affected vessels, including options for alternative discharge ports.
On Sunday, maritime security agencies reported that three vessels came under attack within the narrow 50-kilometre stretch of water between Iran and Oman’s Musandam Peninsula — a zone central to global hydrocarbon trade.