Chinese Ships Fail To Exit Strait of Hormuz
Summary
Three Chinese ships tried to pass through the Strait of Hormuz but were turned back by Iran's Revolutionary Guard. Iran closed the strait to vessels affiliated with the U.S. and its allies. Ship traffic in the area has dropped significantly since a conflict began in the region.Key Facts
- Three ships, including two from China's COSCO Shipping, turned back from the Strait of Hormuz.
- Iran's Revolutionary Guard stated the strait is closed to ships connected to the U.S. and Israel.
- Over 20 civilian ships have been attacked by the Iranian military in recent times.
- Vessel traffic in the strait has decreased by more than 90% since the conflict began.
- The COSCO ships involved were trying to make the first crossing since the company resumed bookings to the Middle East.
- Some vessels have paid about $2 million to use a designated corridor via Iran's waters.
- Iran continues to export oil through the strait, with around 55 to 60 tankers leaving the gulf in the past month.
- Shipping costs from China to the Middle East have doubled compared to before the conflict.
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