Dec 19, 2023 06:59 PM

BUSINESS

Chinese Shipping Giant COSCO Halts Red Sea Transit Amid Attacks

By Li Rongqian and Kelsey Cheng

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China COSCO Shipping Corp. Ltd. will suspend shipments through the Red Sea amid escalating attacks against commercial vessels in the area, joining its global peers and further raising some analysts’ concerns over disruption to global trade if the situation persists.

The Chinese shipping giant, which is the world’s fourth largest container shipping company by capacity, will be sending out notices to customers informing them of the service halt in the Red Sea area, a person at China COSCO Shipping told Caixin Monday.

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