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Bunker One expands with new office in the US

Bunker supplier Bunker One now opens a new office in New Orleans in the US, from where it will be ready to supply, for instance, low-sulfur fuel in 2020. The city has been on the company's radar for a long time, says Global Director Peter Zachariassen.

Trump approves US-China trade deal to halt Dec. 15 tariffs

US President Donald Trump gave his approval for an initial trade deal with China, say people with knowledge of the matter. The deal entails China buying more US agricultural goods and halts the introduction of new US tariffs slated for Dec. 15.

US trying to confiscate millions from shipowner in Syria complex

The US wants to confiscate USD 20 million from a Turkish shipowner. According to the US, the company is part of an illegal network that has sailed oil products to Syria, breaching international sanctions. The case is an offshoot of a larger effort focused on the network.

US sanctions make VLCC rates surge

US sanctions are a key driver boosting VLCC rates, writes shipbroker Clarksons Platou. The firm expects to see daily rates, which have now surpassed USD 100,000 per day, continue to rise.

US to put new tariffs on European goods

The Trump administration has announced new tariffs on European products for more than USD 7 billion annually starting on Oct. 18. The move comes in response to illegal government aid to Airbus.

Tanker rates may drop following attack on Saudi Arabian oil plants

VLCC and LPG rates will face pressure following Saturday's drone attack on two Saudi oil plants, assesses investment bank Cleaves Securities. The bank furthermore predicts that the strike may lead to "several attacks on shipping" in the area around the Strait of Hormuz.

China buys large amount of soybeans from US

Chinese companies have bought ten ship cargoes of soybeans from the US, the biggest purchase since June, Reuters writes. This occurs a few weeks before China and the US once again meet for negotiations in the ongoing trade war. Updated.

China exempts certain products from tariffs

China says that a range of US-produced goods will be exempted from the tariffs implemented last year as the country's government seeks to ease the impact of the current trade dispute with the US. But it will not lift the tariffs on soybeans and pork.

US accuses Iranian shipping network of funding terrorism

The US has allegedly uncovered a shipping network that the country says has helped Iran's Islamic Revolutionary Guard Corps move several million barrels of oil. This prompts the US to warn the industry against entering oil deals with Iran. The US also issues a special warning to the bunker sector.

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