High Shipping Costs Are Here to Stay Says Bloomberg
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
Iran is disabling tracking systems on most of its 39-ship tanker fleet, Reuters reported Friday, citing oil industry, trading and shipping sources, who said it was an effort to disguise the destination of oil sales.
The effort to take the ships “off radar” is designed to counter sanctions by the West, the sources told Reuters. Captains of the National Iranian Tanker Co. were ordered to switch off their black box transponders used in the shipping industry to track vessels, the sources said.
An NITC official declined comment to Reuters.
-Dow Jones Newswires
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