Global shipping operations in the Gulf have been disrupted as Chinese shipping giant Cosco announced that its vessels in or headed for the region must seek “safe waters” following recent military strikes on Iran by the United States and Israel.
The Strait of Hormuz, a critical maritime chokepoint through which nearly 20% of the world’s oil supply passes, has been severely impacted after Iran’s Revolutionary Guards declared it closed on Saturday. This has heightened concerns over potential oil supply disruptions and regional instability.
COSCO, a Shanghai-based state-owned shipping company, instructed ships already in the Gulf to complete their operations safely and then move to secure areas, either by anchoring or navigating to sheltered waters.
Vessels scheduled to enter the Gulf have been warned to prioritize navigational safety, reduce speed, and await further instructions at designated anchorages.
The company added that it is evaluating contingency plans for affected cargo, including possible alternative discharge ports. Cosco joins other major global carriers, such as Maersk and MSC, which have also suspended operations in the region as a precaution.
State media in Oman, which borders the strait, reported that an oil tanker had been hit, injuring four crew members. Meanwhile, UK authorities confirmed that a ship off the UAE coast near the Strait of Hormuz suffered a fire after being struck by an “unknown projectile”.
Analysts warn that continued shipping disruptions in the Gulf could send oil prices higher and impact international trade, while escalating tensions between the US, Israel, and Iran threaten global energy security.
