Tanker market report dated 2 November 2018

Sanctions are back. From Monday any company trading Iranian crude faces being cut out of the US financial system. The Trump Administration has stated its aim is to reduce Iranian shipments to zero, although few expect this to actually be the case. The Administration appears to have softened its stance, perhaps realising that zero exports are both unrealistic, and potentially economically damaging in terms of oil prices. This morning Bloomberg has reported that waivers are likely to be granted to eight countries, with the official confirmation expected early next week.

The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

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Posted: 02 November 2018

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