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Oil tanker rates rise following US sanctions

Posted On: Oct. 1, 2019 6:56 AM CST

Cosco Shipping

U.S. sanctions on China-based Cosco Shipping Tanker (Dalian) Co. Ltd. has led to an immediate rise in the rates of oil tankers, FreightWaves reported. Tanker rates were already elevated following attacks on Saudi oil facilities. The United States has imposed sanctions on the company for allegedly carrying Iranian crude.

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