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China US States Tankers and Gas

US-sanctioned Cosco tankers unit gets two months’ grace period to complete voyages

The tanker market has about two months to wind down operations with China's sanctions-hit Cosco Shipping Tanker (Dalian), according to a license issued by the US Treasury Department on Thursday. However, the news has caused the share prices of tanker companies to drop substantially

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Tanker stocks were down about 2%-10% across the board after the note was issued by the US Treasury Department on Thursday

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