Chinese shipping firm COSCO has suspended shipping to Israel, according to a report at the weekend on Israeli financial news website Globes.
“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,” said Globes journalist Dean Shmuel Elmas. “This is liable to will lead to higher shipping costs, since ZIM will be short of ships.”
As of Monday COSCO’s representatives in Israel had declined to comment on the situation.
The report did not include details behind the decision. Israeli port officials said they were checking the report.