COSCO Shipping Halts New Bookings for Middle East Routes

Chinese shipping and logistics conglomerate COSCO Shipping's container liner unit said on Wednesday it had suspended all new bookings for routes to and from ports in the Middle East region, including those in the United Arab Emirates and Saudi Arabia.

The move was due to escalating conflict in the region and traffic restrictions in the Strait of Hormuz, COSCO Shipping Lines said in a statement.

Bookings for routes to and from Bahrain, Iraq and Kuwait have also been suspended, it added.

The company said it was evaluating follow-up disposal plans, including possible alternative unloading ports, for goods currently on board.

(Reuters - Reporting by Beijing Newsroom; Editing by Andrew Heavens)