World News
Cosco Resumes Shipment Bookings for Gulf Countries
Chinese container shipping firm Cosco Shipping Lines has resumed accepting new bookings for general cargo shipments from the Far East to the UAE, Saudi Arabia, Bahrain, Qatar, Kuwait and Iraq.
The latest booking arrangements take immediate effect, but Cosco cautioned that both bookings and actual cargo movements remain subject to change due to ongoing volatility, it said in a customer advisory on its website on Wednesday.
The move follows the company’s earlier decision to halt new bookings to Middle East ports amid the Iran conflict and heightened risks to shipping in the region.
The company added that previously accepted bookings will not be affected and said it will continue to monitor the situation and provide updates as needed.
“Please note that the above new booking arrangement and the actual carriage are subject to change due to the volatile situation in the Middle East region,” it said.
Meanwhile, other container lines continue to halt new bookings for the Middle East.
According to media reports, Iran is allowing vessels of China to transit the Strait of Hormuz.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 894.50 | 91.50 | 1784.00 | 156.00 |
| Rotterdam | 757.50 | 72.00 | 1334.50 | 63.00 |
| Houston | 801.50 | 6.50 | 1275.50 | 19.50 |
| Fujairah | 941.50 | 97.50 | 1640.50 | 151.50 |
| Global 20 Ports Average | 974.50 | 61.00 | 1568.50 | 54.50 |
| Global 4 Ports Average | 848.50 | 67.00 | 1508.50 | 97.50 |
| Global Average Bunker Price | 1022.50 | 24.50 | 1535.50 | 13.50 |
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