All signs indicate that the US retail industry will soon need to replenish its inventories following the coronavirus crisis. This is good news for the container lines, which are already sailing at the highest rates in a long time.
US pressure on the shipping sector to halt trading with Venezuela has made several classification bureaus terminate agreements with tanker vessels. Insurance companies and flag states are also tightening requirements.
Another two Greek shipping companies will now no longer carry Venezuelan oil. This comes after pressure from the US, which is trying to choke Venezuela's oil export in an attempt to target the country's president, Nicolás Maduro.
Four tanker ships with ties to Greece have been blacklisted by the US for sailing with oil from Venezuela. According to a ship database, the ships are ultimately controlled by several well-known Greek shipowners.
Maersk has canceled an exclusive arrangement with a competitor to APM Terminals in the US and will now move the routes to its own terminal. The competitor fears having to close due to the sudden cancellation.
The US oil market saw a complete collapse on Monday, with prices as low as USD -37 per barrel of crude. They rose again on Tuesday, but the fundamental problem remains unsolved. Now Trump wants to fill reserves, US media write.
Maersk accuses the four largest railroad companies in the US of having illegally fixed fuel surcharge prices at "extraordinary meetings, phone calls and e-mails" from 2003 to 2008. The railroad companies reject the accusations.
The oil price's recovery from the massive dive Monday slowed down following skepticism that the U.S. would be unable to provide enough stimulus to protect against the effect of the coronavirus amid a surge of crude oil into the market.
A US court has ruled that a Turkish shipowner will forfeit more than USD 11 million for having violated US and European sanctions against Syria. The case is part of a complex in which the US is trying to tighten the net on a network of Russians and Syrians.