CHINESE state-owned shipping giant COSCO has suspended shipping to Israel through the Red Sea as tensions in the strategic shipping lane continue to rise, Israeli financial news website Globes reported.
The report, which did not include details behind the decision, came as shipping lanes in the Red Sea have been disrupted by attacks carried out by Iranian-backed Houthi militants in Yemen.
COSCO offices in Israel declined to comment. Israeli port officials said they were checking the report.
Attacks on ships traversing the Red Sea have pushed freight rates higher and led to longer shipping journeys as shipper reroute to travel the long way around South Africa's Cape of Good Hope instead.
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