COSCO and Other Chinese Shipping Companies Blacklisted by Pentagon

COSCO, the world’s largest shipping company, has been added to a list of companies by the US Department of Defense with links to the People’s Liberation Army. This move, although carrying no specific penalties, discourages US firms from engaging in business with these entities seen as military-associated by Washington.

Joining COSCO on the Pentagon’s blacklist are other prominent Chinese shipping-related names such as China State Shipbuilding Corp (CSSC), China National Offshore Oil Corporation (CNOOC), China International Marine Containers (CIMC), China Communications Construction Group, and Sinotrans & CSC Holdings.

In the past, COSCO faced sanctions from the US in 2019 when its tankers were prohibited from carrying Iranian oil. This action caused a surge in Very Large Crude Carrier (VLCC) rates to as high as $200,000 per day.