UNITED STATES – In an effort to cut soaring global freight charges, the United States is considering lifting sanctions on certain oil tankers from the so-called “shadow fleet,” allowing previously sanctioned boats to transport non-sanctioned crude oil. The concept could enhance tanker availability and reduce fuel transportation costs. However, concerns about vessel safety, insurance limits, and current international sanctions could limit its usefulness. Any changes to the limits could have an impact on global oil shipments, refinery supply chains, and industrial logistics, thereby raising transportation and operational costs in the energy sector.
For more information, click here to read more.
(Source: Reuters)