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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.

The US warns of Iranian threats to ships

US authorities have issued a warning about Iranian threats to vessels sailing in the Strait of Hormuz and the Persian Gulf. According to the US, several ships have experienced GPS interference.

This week's top stories on ShippingWatch

This week especially held stories involving the Strait of Hormuz, and most recently, the Danish government has declared its readiness to participate in a naval mission. Moreover, an investor has lost patience with a Danish shipbreaking yard, and logistics company Kuehne+Nagel said no to seafreight acquisitions.

US destroys Iranian drone in the Strait of Hormuz

President Donald Trump says that the US has destroyed a drone flying close to a US warship in the Strait of Hormuz. The drone was shot down the same day Iran announced it has seized a foreign tanker vessel.

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