Reprieve for Cosco tankers to unnerve investors
Signs that the US and China are moving closer to reaching a trade deal gives hope to state giant Cosco Shipping that its tanker units may be taken off the US sanction blacklist. But it is not good news for listed tanker companies’ investors
Tanker rates have already fallen back from the earlier high levels, while investors will not favour another blow from the injection of extra vessel capacity, or even just the likelihood of it
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