Car-Shipping Companies Plunge After Trump’s Latest Tariffs
Shares of companies that haul cars across oceans plunged after President Trump widened his trade war with tariffs on vehicles not made in the US.
MOSCOW, Aug 22 (Reuters) – Russia has started to use vessels sanctioned by the Europe Union (EU) for oil products exports, LSEG and market sources data showed.
In June, EU countries adopted a 14th package of sanctions on Russia and added 27 vessels, including oil, products and liquefied natural gas tankers, to its list of entities sanctioned since Moscow’s incursion into Ukraine.
According to LSEG data, one of the sanctioned vessels – the Barbados-flagged Saga (IMO number 9318553, ex-name NS Spirit) was loaded on Aug.8 at the Russian Baltic port of Vysotsk with 33,000 metric tons of dark oil products.
The tanker is moving towards the Suez Canal, a route that could suggest an Asian destination.
Another vessel – Kavia (IMO number 9353113, ex-name Hana) -is currently loading diesel at the Baltic port of Primorsk, shipping data shows. The final destination for this tanker is unknown as yet.
The ships from the sanctions list cannot enter the ports of EU member countries, but may freely discharge outside EU countries, market sources said.
Previously, at least two tankers on an Iran-related sanctions list carrying Russian fuel oil were discharged in a Chinese port.
Several other vessels sanctioned by the EU have also been renamed, including the Serenade (IMO number 9318541, ex-name NS Stream), N Cerna (IMO number 9289520, ex-name Canis Power) and Success (IMO number 9333436, ex-name SCF Amur), which are currently drifting at the Sea of Marmara, according to LSEG data.
(Reporting by Reuters, Editing by William Maclean)
(c) Copyright Thomson Reuters 2024.
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