COSCO suspends Qatar services

China’s COSCO Shipping Lines Co Ltd has suspended shipping services to Qatar, citing “uncertainties” after Arab countries severed diplomatic ties with the Gulf state and imposed port restrictions. The world’s fourth-largest shipping line suspended services after Saudi Arabia, Egypt and other Arab nations cut ties with Qatar over its alleged support for terrorism, an accusation the country denies. COSCO told customers about the suspension of services to and from Qatar’s Hamad Port in a notice issued on Wednesday, a spokeswoman for COSCO’s parent company said on Monday. “In view of the uncertainties as the situation develops, in order to protect the interests of customers, our company is from now on suspending booking services and deliveries for Qatar,” it said in the notice. It added that it had launched a contingency plan that it would inform customers of as soon as possible. of Commerce for the deal. In January, Rio said it was selling its interest in Coal & Allied Industries Ltd to Yancoal’s subsidiary Yancoal Australia Ltd for $2.45 billion. Glencore on Friday made a counterbid for Coal & Allied offering $2.55 billion in cash. The terms of the Yancoal agreement allow Rio to engage in negotiations with another party if it made a better offer. Glencore’s proposal is $100 million higher and fully funded, but Rio Tinto has to give Yancoal the chance to make a counter offer, opening the way for a bidding war.