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China COSCO Shipping, a giant in the shipping industry, has launched new routes and an emergency response system to counter the Iran war and climate risks.
Chinese shipping giant COSCO Shipping Holdings is launching new capacity and trade routes, and increasing road transport, to ensure its supply chain can withstand potential shocks. The move aims to counter escalating geopolitical conflicts, infrastructure bottlenecks, and climate-related disruptions, especially after the outbreak of the US-Israel-Iran war, which has disrupted Middle Eastern shipping traffic and sent freight rates soaring by 130%. Hong Kong-listed COSCO Shipping Holdings reported a net profit of 13.4 billion yuan ($2 billion) for the first half of 2026, a year-on-year decrease of 23.6%.
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