B · Normal
[The United States plans to allow sanctioned oil tankers to return to the legal market, but there may be little response as freight rates rise] October 20th: A U.S. plan to promote sanctioned oil tankers to resume legal operations and increase oil supply may only attract a very small number of ships in the "dark fleet" because existing contracts, complex compliance reviews, and high freight rates weaken potential sellers' willingness to sell. The measure, unveiled on Monday, just weeks before the U.S. midterm elections, is the latest step by the Trump administration to drive down crude and fuel prices. However, the number of sanctioned supertankers actually available for sale is limited, and potential sellers are reluctant to give up lucrative Middle East voyages. Industry analysts say efforts to bring so-called "dark ships" back to the legal market may struggle to make headway.
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