Tanker

Cosco subsidiary confirms US sanctions – stock plummets

Tanker company Cosco Shipping Energy Transportation's equity depreciated significantly in stock trading Monday after its subsidiary Dalian Tankers was hit by US sanctions.
Photo: Andy Wong/AP/Ritzau Scanpix
Photo: Andy Wong/AP/Ritzau Scanpix
BY NIKLAS KRIGSLUND

Cosco Shipping Energy Transportation's (CSET) stock plummeted on the Hong Kong Stock Exchange after the company confirmed that one of its subsidiaries is struck by US sanctions for having transported oil from Iran.

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