The escalation of US-China tension is set to deal another blow to tanker markets, where spot earnings have corrected sharply this month, according to analysts.
On Thursday, China’s legislature rubber-stamped a controversial national security law for Hong Kong — a move that many critics said would effectively end the city’s autonomy.
With Washington mulling over the termination of Hong Kong’s special trade status, the bilateral relationship between China and the US is widely expected to deteriorate further after being severely strained by the coronavirus pandemic.
