Sanctions, Shipping, and Oil Markets

The US administration’s decision to sanction two subsidiaries of China COSCO Shipping Energy, alongside announcements by global traders including Exxon and Unipec that they are banning the use of vessels linked to oil flows from Venezuela have effectively taken close to 300 of the global tanker fleet offline. In addition, longer sailing times from the US to Asia tie vessels in for longer, while ships are entering dockyards for retrofits ahead of the new maritime rules that come into effect on 1 January 2020. In short, a perfect storm seems to have hit the shipping industry. Source: OIES
This report is for subscribers only Start with a FREE 30-day trial and then save up to 22% with an annual subscription. Get instant access to over 1,500 reports. Cancel anytime.
FREE TRIAL
Already a subscriber ? Log in

Related Posts

Trending Posts

Recent Post

Welcome Back!

Login to your account below

Retrieve your password

Please enter your username or email address to reset your password.

Brighten Up Your Thursday!

SIGN UP to receive our free weekly newsletter with new shipping market reports, presentations & analysis! EVERY THURSDAY!