Escalation of the conflict between the US and Iran has not yet led to any "dramatic change" pertaining to threats to commercial vessels in the Persian Gulf, although the threat level remains elevated, according to marine insurers' war committee.
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.
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.
A trade agreement between China and the US is allegedly moving closer, and the soybean trade is key to these negotiations. New numbers show that China has increased its import from the US significantly.
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.
Freight rates for the VLCC tanker vessels have climbed to USD 65,000 per day following the news of US sanctions imposed on Dalian Tankers, a subsidiary of China's Cosco. It could take some time for clarity to emerge, says Euronav.
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.
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 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.
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.