Washington’s targeting of Iranian tankers sparks memories of sanctions levied at COSCO in 2019

Washington’s decision to go after Iranian-linked VLCCs with sanctions has sparked memories of the great freight rate spike of Q4 2019 when supertanker spot rates leapt above $100,000 a day.  The US Treasury put sanctions on 17 companies and 23 vessels including many VLCCs last week, stating in a press release that Iran is using …

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