The Jones Act prevents foreign shipping companies from competing freely on the US market, for instance the offshore carriers servicing the wind sector, which are currently trying to enter the country. (edited).
The truce between the US and China may have postponed an open conflict, but it has not yet prevented one. ShippingWatch has gathered reactions from Maersk Line, HMM, OOCL and Hapag-Lloyd. Shipping bank Nordea is far from convinced about the effect of a temporary agreement.
The US government has issued a new warning to the shipping industry to not violate the recently reintroduced sanctions by, for example, sailing Iranian oil to Syria. At the same time, the US also introduces new sanctions against nine Iranian targets.
More than 200 individuals and ships in the Iranian shipping and energy sector, including the two major state-owned carriers, are included on the US sanction list. The US warns the global shipping industry against Iranian attempts to evade the sanctions.
The US has overtaken Saudi Arabia and Russia as the largest oil producer in the world. According to an investment company, a significant part of the explanation is the technological development, writes CNN.
Hurricane Florence is currently ravaging through the US east coast and will impact shipping routes in the region. One specific market will be struck particularly hard. Carriers are decreasing the speed of vessels.
The US has overtaken Saudi Arabia and Russia as the largest oil manufacturer in the world. According to an investment company, a significant part of the explanation is the technological development, writes CNN.
China is expected to take over from France's Total SA to develop Iran's share of the world's biggest gas deposit. The French oil major has halted operations after US President Donald Trump reimposed sanctions on Iran.
Swiss-based commodity trader Trafigura has filed for permission to build a terminal in Texas which can be used by the largest oil tanker vessels. The project will facilitate the growing export of US crude oil.