Oil Shipment Costs Increase 43 Percent After US Blacklists China Tankers

Oil Shipment Costs Increase 43 Percent After US Blacklists China Tankers
Workers help to dock a China Ocean Shipping Company (COSCO) container ship at a port in Qingdao, Shandong Province, China on Oct. 19, 2018. Reuters
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News Analysis

The U.S. blacklisting of four Chinese oil tanker firms for knowingly violating trade restrictions against transporting Iran caused oil shipping rates to increase 43 percent.