The ministry confirms that three Chinese ships have recently sailed through the Strait of Hormuz, adding that “we would like to express our gratitude for the assistance provided by all parties concerned”. They didn’t go so far to name which ships they are referring to but recent reports suggest that it is likely they are vessels tied to China’s state-run COSCO Shipping.

For some context, these same ships were turned back on Friday last week as Iran continues to keep a firm stranglehold of control over the Strait of Hormuz. Two ships are said to be owned by COSCO Shipping with the other believed to be Hong Kong-owned Lotus Rising. Those were the three ships turned back at the end of last week and are believed to be allowed passage this time around.

To add to that, the attempted crossing on Friday was the first outbound transit by COSCO Shipping container ships since the US-Iran conflict began on 28 February. I reckon they were denied last week amid some communication mix up but that looks to be cleared up this week already.

And it seems like China will at least be one to have access through the strait for now. At this point, every little bit helps. So, that will be a massive boost to Beijing as they rely heavily on oil and petrol imports.

As an aside, COSCO Shipping did sent out a client advisory on 25 March that it had resumed bookings for general cargo containers for shipments from Asia to the Gulf region. And that includes countries such as Saudi Arabia, UAE, Qatar, Bahrain, Kuwait, and Iraq. I doubt they would have sent out such a notice without having consulted with Beijing officials.

In any case, I wouldn’t take this as a sign that Iran is loosening its restrictions on the strait though. China is one of its biggest allies and has been one to have been procuring oil shipments from Iran despite sanctions in the past. So, their relationship here is more of an exception rather than the rule.

This article was written by Justin Low at investinglive.com.