Tanker market booming due to US sanctions

Some people smile all the way to the bank due to a spike in tanker market spottrates:

John Fredriksen and his friends gets richer due to Trupm’s unilateral sanctions imposed on companies that trade with, or carry oil for, Iran.Chinese companies are specially targeted as part of the trade war.

Will this in any manner help US shipping??
Yes, but only US persons, companies and institutions owning and/or operating tankers under foreign flags I would think.
The Jones Act market operate in a very different sphere from the world market and is not likely to be affected in any manner.

As the saying goes: One man’s loss is another man’s gain…

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Did the Trump administration realize the effects of slapping sanctions on part of COSCO, the world’s largest shipping company?:

I suspect they just thought this would be a good bargaining chip in their trade negosiations with China in the best " Art of the Deal" (their Bible) fashion.

Two effect of the sanctions put on Iran and on COSCO tankers.’

  1. The rates shoot up on the spot market:
    Good for tanker owners, bad for US crude oil export market and shippers

  2. COSCO tankers go “dark”:
    With many young watch officers relying heavily on AIS as a tool for collision avoidance and situation understanding, can this lead to accidents??

Now the Insurance market gets to experience the fallout of the Iran and COSCO sanctions instigated exclusively by the US/Trump: