Is this how sanctions are supposed to work? (Macro Macchiato 30/09/19)
Look Mum, we’re in the papers! It isn’t often that shipping finds its way onto the pages of the mainstream press. Usually it’s because of bad news. This week it’s because the US-Iran phony war has spread to the tanker market and has leached into the US-China trade war. Last week the US State Department announced that, as part of its sanctions on Iran, it would sanction oil tanker companies that lift Iranian oil. Two units of China’s Cosco tanker shipping arm were named. COSCO