Asian tanker shares slump as US weighs easing shadow fleet sanctions, Splash247 reports

Asian shipping shares fell sharply on Thursday 15 October after reports that Washington is considering easing sanctions on shadow fleet tankers, Splash247 reports. COSCO Shipping Energy lost more than 13% in Hong Kong, while China Merchants Energy Shipping and China Merchants Nanjing Tanker hit their 10% daily limits in mainland trading. The proposal, not yet formally announced, would let blacklisted ships linked to Russia, Iran and Venezuela carry oil not itself under US sanctions. Clarksons Research puts the number of individually sanctioned oil tankers at 1,010, or 17% of global tanker capacity. Analysts at SEB and Sentosa Shipbrokers quoted by the publication expect little usable extra capacity, as most sanctioned tankers are old and already trading.

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