Chinese state-run shipping companies COSCO and CMES have reportedly stopped trying to send their oil tankers through the Strait of Hormuz, which is menaced by Iranian terrorism, and the Bab el-Mandeb Strait, which is under threat from Iran’s Houthi terrorist proxies in Yemen.
Industry executives and ship tracking services told Reuters on Tuesday that the massive shipping companies gave up on the straits after consulting with the Chinese central government about security risks.
According to these sources, CMES was the first to throw in the towel on the Strait of Hormuz in late July, but the decision has not been formally announced. Chinese…
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