The US' sanctions against Dalian Tankers, a subsidiary of Cosco Shipping Energy Transportation (CSET), have not only made the company's stock plunge, they have now also made the freight rates for the largest tanker ships, VLCCs, soar to more than USD 60,000 per day, the highest level in five years.
It is not least the overall uncertainty that hits an already somewhat unstable tanker market that plays a part in creating concerns, say observers including Bimco Chief Analyst Peter Sand.
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