Tanker earnings are surging in chaotic trades on Thursday as charterers rush to seek replacement vessels after the US put a major Cosco subsidiary on the sanctions list.
Cosco Shipping Tanker (Dalian) Co, a tanker owner controlled by Cosco Shipping Energy Transportation (CSET), was put on Washington’s Specially Designated Nationals List for allegedly violating Iran-related sanctions late Wednesday.
With a lack of firm information on which vessels are under the ownership of Cosco Dalian, market sources have suggested some charterers are steering away from business with CSET, the world’s second largest crude tanker owner by carrying capacity, altogether as precautionary measures.
