US warns of more shipping sanctions

The United States has warned shipping companies other than Cosco could fall victim of sanctions if they are found to be moving goods such as Iranian oil.

China’s CNOOC says COSCO sanctions have impact but oil and gas output unaffected

CNOOC, China’s largest offshore oil and gas producer, on Thursday said it would be affected by U.S. sanctions on its COSCO shipping firm but there would be no impact on its oil and gas production.

Navigating the Recent U.S. Sanctions on COSCO (Dalian) and Other Chinese Companies

Based on news reports, there may be as many as 50 tanker vessels indirectly owned by COSCO Dalian. In addition, COSCO Dalian has a joint venture with Teekay LNG that may be affected.

Sanctions good for tankers as VLCC rates skyrocket

hksuezmaxtankerdeckview-300x200 (1).jpg Sanctions are not something generally seen as good for shipping, as they usually impede free trade, but the latest US sanctions against Cosco for carrying Iranian oil have caused the VLCC market to skyrocket.

US: Iran sanctions remove 2.7m barrels of oil a day from market

The United States has removed nearly 2.7 million barrels of Iranian oil from global markets daily as a result of Washington’s decision to reimpose sanctions on all purchases of Iran’s crude, US Secretary of State Mike Pompeo said on Tuesday.

China seeks WTO backing for $7 billion sanctions on U.S. over dumping duties

China told the World Trade Organization (WTO) on Tuesday it wanted to impose $7 billion (5.38 billion pounds) a...

Gibson: US Sanctions against Venezuela “Cause for Concern”

Sanctions imposed by the US against Venezuela, which have until recently benefited the tanker market, are now starting to impact shipments.