Turkey Tightens Maritime Blockade on Israel.. Refusal to Dock Israeli Ship in Istanbul

Sada News Economy Translation – The Hebrew economic newspaper "Globes" reported that Turkish authorities refused last Friday to allow a ship belonging to the Israeli company "Zim" to dock at Istanbul port, following new Turkish measures against Israel. It revealed that major international shipping companies like MSC and Maersk are still waiting for clear instructions from the authorities in Ankara, with some describing this action as a targeted strike against "Zim".

According to informed Israeli and Turkish sources, the Turkish ports authority denied the "Zim" ship permission to dock due to its Israeli ownership, forcing the vessel to head to the port of "Piraeus" in Greece, which halted all shipments from and to Turkish ports for "Zim", with no alternative solution currently available, according to Sada News Economy translation.

"All Relations with Israel are Prohibited"

The newspaper "Globes" quoted a Turkish source stating that "there is still a state of anticipation in the international shipping sector awaiting clear instructions from Ankara, confirming that 'all relations with Israel are prohibited', including loading goods destined for the Palestinian Authority, according to Sada News Economy translation.

The newspaper added: "While ships belonging to Zim are considered to have a direct and clear connection to Israel, other major shipping companies like MSC and Maersk are still waiting for official guidance, as it has become clear that the flag the ship flies does not guarantee anything against the new Turkish policy," an Israeli source stated: "This step aims to directly eliminate Zim".

New Escalation in Turkish Measures Against Israel

"Globes" revealed on Thursday that Turkey decided to expand its measures and completely halt Turkish ship movements to Israel, following about a year and three months of imposing a trade ban on Israel.

According to the new instructions, any ship flying the Israeli flag or owned by Israeli companies is now prohibited from docking at Turkish ports, while Turkish ships are also banned from docking at Israeli ports, as translated by Sada News Economy.

The new instructions also include a ban on handling shipments destined for Israel, although this step has little practical impact, as there is no need for a shipment from Greece to Haifa to pass through Turkey.
Ankara has also directed all Turkish ports to request ship owners to sign a pledge that their vessels have no connection to Israel and that they do not carry military or other shipments to Israel.

Another Blow to "Zim"

The newspaper clarified that this step represents an additional blow to "Zim", which is already going through a difficult period, as the company announced last week disappointing quarterly financial results for investors, with net profit in the second quarter dropping by 94% to just $24 million, after the company recorded revenue growth and net profits of $296 million in the first quarter.

According to the newspaper, "Zim" has not commented on the event yet.

Imports from Turkey Reached $5.3 Billion Annually

This Turkish action comes amid a report from the Bank of Israel in March, which indicated that Turkey has been an important source of imports for Israel over the past 15 years. In 2023, the value of goods imported from Turkey was approximately $5.3 billion, accounting for about 6.3% of total Israeli imports, of which $4.6 billion was imported directly from Turkey, with the remainder through third parties.

Turkey is a major source of construction materials and production for Israel, with about half of the cement and gypsum imports and their products coming from Turkey, and about one-fifth of iron and steel imports. Israel also imported large quantities of plastics, cars, and electronic equipment from Turkey, as "Globes" indicated.

In contrast, the volume of Israeli exports to Turkey has been limited, amounting to about $1.5 billion in 2023, or about 2.5% of total exports, focusing on chemicals, plastics, and scrap metals and steel, while the export of services and the number of Turkish tourists to Israel has been minimal, resulting in a clear trade deficit in the trade balance between the two countries.

Since the imposition of the ban in May, Israeli exports to Turkey have decreased by about $1 billion compared to 2023, contributing to a decline in total exports of chemical products during 2024, while its impact has been limited in other sectors.

Imports of Turkish products dropped from about $550 million monthly at the beginning of 2024 to about $100-200 million monthly by the end of it, with a noticeable decline in most major categories of goods.