China’s state-owned COSCO and CMES have stopped sending oil tankers through the Strait of Hormuz and Bab al-Mandeb because of security risks.

INTELLIGENCE SUMMARY

China’s state-owned COSCO and CMES have stopped sending oil tankers through the Strait of Hormuz and Bab al-Mandeb because of security risks. Instead, they are loading Middle Eastern crude at safer locations outside the Gulf, mainly Fujairah and ports near Oman. Source: Reuters