Photo courtesy Phil Kempsey By Humeyra Pamuk and Timothy Gardner WASHINGTON, Jan 31 (Reuters) - The United States on Friday lifted sanctions on one of two units of the giant Chinese tanker company COSCO, the Treasury said, partially reversing its punishment to the company for transporting Iranian oil after China raised the issue in trade talks with … [Read more...]
Trump Administration Extends COSCO Tanker Unit Waiver
WASHINGTON, Dec 19 (Reuters) - The Trump administration on Thursday renewed a waiver for companies to wind down transactions with the Dalian unit of a Chinese tanker company on which it had imposed sanctions in September for allegedly transporting Iranian oil. The waiver, good until Feb. 4, 2020, allows activities and transactions "ordinarily incident and necessary to the … [Read more...]
Oil Tankers Idling Off China Hold Key to Shipping Rates
By Bloomberg News (Bloomberg) -- The fate of at least 15 oil tankers idling off the coast of China holds the key to determining the path of global freight rates. The vessels are owned by a unit of Chinese shipping giant COSCO that was sanctioned by the U.S. in late September for carrying Iranian oil. They’ve been floating off the coast for over a month, ship-tracking … [Read more...]
BHP Says It’s Been Unaffected by COSCO Sanctions
LONDON, Nov 7 (Reuters) - The sanctions imposed by the United States on subsidiaries of Chinese state-owned group COSCO have not affected the world's biggest dry bulk shipper BHP , the mining company said, after carrying out due diligence to check. In one of the biggest sanctions actions taken by the U.S. government since its crackdown on Iranian oil exports, Washington … [Read more...]
U.S. Sets Sights on Shipping Companies for Sanctions Evasions
By Jonathan Saul LONDON, Nov 6 (Reuters) - The United States will target shipping companies that are in breach of sanctions and aggressively enforce measures across the globe to clamp down on such practices, a top U.S. official said on Wednesday. In one of the biggest sanctions actions taken by the U.S. government since its crackdown on Iranian oil exports, Washington … [Read more...]