The Financial Collapse of 2001 Unwinding Message Board

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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding

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To: robert b furman who wrote (4106)	12/9/2019 11:09:54 AM
From: Elroy Jetson	Read Replies (1) of 13794

Most large ships run on bunker fuel which is far less costly than diesel, so they need low-sulfur bunker fuel. Over the past two years some shipping lines have instead been dry-docking their ships one at a time over the past two years to add on amine-based sulfur emissions capture equipment, which is their choice. No ship as large as a tanker would ever be made obsolete by sulfur requirements. Smaller tankers only exist to be used in the Panama Canal trade and will continue to be needed. . On September 25, 2019 the Trump administration placed sanctions on the tankers owned by the COSCO Dalian subsidiary of China state-owned COSCO shipping, for transporting Iranian crude, which has unexpectedly driven up the cost of chartering an oil tanker. - freightwaves.com China has made asset transfers with COSCO Dalian in an attempt to free up tankers from sanctions, but the U.S. Office of Foreign Assets Control (OFAC) has yet to designate which specific tankers the sanctions apply to, so customers are erring on the side of caution and reportedly avoiding any ship that might conceivably be on the target list.

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