Big story over at Reuters:
From the linked article:
Freight rates for U.S. crude tankers bound for Asia hit an all-time high on Wednesday as U.S. sanctions on a Chinese transport giant cut vessel availability.
South Korea’s top refiner SK Energy chartered a supertanker, Maxim, to ship U.S. crude to South Korea in November for $10 million, the highest price for a U.S. Gulf-to-Asia shipment ever, two sources familiar with the matter said. SK could not be reached for comment.
The United States last week imposed sanctions on two units of China’s COSCO for alleged involvement in ferrying crude out of Iran. That action prompted U.S. Gulf Coast exporters to hold back chartering COSCO-linked vessels.
Most interesting poll:
One of the units - COSCO Shipping Tanker (Dalian) - owns and manages at least 36 tankers for crude and refined products, including 18 supertankers or very large crude carriers (VLCCs).
Re-posting. I can't remember if I posted this with the story some days ago.
Definitely seeing some recession jitters. Also, I think the economy is concerned about a Democrat getting elected.
ReplyDeleteThings seem to be shaping up for Pocahantas. Sanders (and really Biden too) are too old and infirm. Biden would be the least crazy, most reasonable, Clinton-like Democrat.
Hopefully Poca moderates her anti-fracking tone after getting elected. That, that was just to win primaries. I would be worried though about what she can do, just within the executive branch, using regulatory powers and a sympathetic career bureaucracy. (Look at the little s...bombs Obama left on his way out in terms of methane rules and the like.)
And think how bad the Obama Depression would have been if fracking hadn't at least charged that part of the economy.
Of course Trump may pull it out in the end. Never know.
The candidate is least of my worries: it is with whom the new president surrounds himself/herself. We will get a replay of the Obama administration; the bench is simply not that deep in Washington for the Dems. None of the current front-runners have their own slate, including Biden. They would take those who served with Hillary and those who served with Obama. Plus the RBG-replacement on the US Supreme Court.
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