US Sanctions Impact Chinese Oil Port
Three very large crude carriers have rerouted from China's Rizhao port after US sanctions targeted the terminal for handling Iranian oil.
This move threatens to disrupt Sinopec's import flows, with the vessels carrying crude oil from Brazil, West Africa, and the UAE.
- Two VLCCs are now en route to the port of Ningbo Zhoushan on the East China Sea.
- The third is heading for the northern port of Tianjin.
US sanctions have been imposed on the facility due to its handling of Iranian crude.
Author's summary: US sanctions divert supertankers from Chinese port.