Posted on 05/29/2018 9:12:13 PM PDT by TigerLikesRooster
U.S. Sanctions Start to Pinch Shipping in Iran
Tanker and container operators prepare to wind down business with Iran ahead of U.S. sanctions
By Costas Paris and Joanne Chiu
May 29, 2018 5:30 a.m. ET
It will be months before new U.S. sanctions against Iran take hold, but global shipping operators are already pulling back from the big oil-exporting nation.
The world’s two biggest shipping lines, Denmark’s Maersk Line and Swiss-based Mediterranean Shipping Co., said they were winding down general cargo shipments, while tanker owners said they plan to move their vessels to other oil-producing countries in the Middle East or West Africa.
Even though the U.S. is alone in imposing the new sanctions, “I don’t think any shipping line that operates globally will be able to do business in Iran if the sanctions arrive in full force, the way they are intended,” said Soren Skou, chief executive of Maersk Line and parent company A.P. Moller-Maersk A/S.
Maersk and privately held MSC have been moving everything from electronics and household goods to food and heavy machinery to Iran. Mr. Skou said Maersk’s Iran operations are small, but with an Iranian population of 80 million, carriers heralded the lifting of earlier sanctions in 2016 as the opening of an important Middle East trade destination.
(Excerpt) Read more at wsj.com ...
Amazing how people and nations will follow when led.
Anyone else still pinching themselves that Trump is POTUS and not that Queen Bee?
Any company or bank that violates the sanctions and trades with Iran may suddenly find that not only will they be excluded from the American market but other companies and banks fearing being tainted might not want to do business with them. Depends how tough Trump wants to be.
To this I say, “PINCH, BABY, PINCH”.
Chinese “companies” will fill the gap.
But... there will be a glut on the market of shipping and they’ll do it at a loss.
But, heck, China wants a peaceful Iran so I don’t think they’ll try all that hard to support the crazy mullah.
When will the Democrats come to the defense of Iran?
I’ve been following some pretty interesting developments in Iran this past week....there’s truck drivers, taxi drivers, delivery trucks, city bus drivers and route drivers and a bus terinal had to close down already.....they are all now on their 7th day of striking throughout ‘the entire country’...more than 242 cities and all of the country’s 31 provinces.... They’re shutting down the economy of Iran!
To try and stop the drivers yesterday they ordered the police to remove license plates from any parked truck but truckers got wind of it and took them off themselves...they simply are at loss how to stop all these companies striking.
Food is being taken from trucks by city buses to get to the markets of the few that make it through.....oil truckers have to be escorted by the police. Lines of people waiting to get gas everywhere....chicken farmers have had to kill their own chickens because they can’t get them off the farm.
But these Chinese “companies” wouldn’t have any business with the US, or our allies, to be sanctioned by us.
I wonder how far the Chinese will go. Suspect Iran is a big part of the NK negotiations.
Check your e-mail
If this keeps up by the people on the ground, and the other countries now stopping their banking, with Trumps increase in Sanctions....it’s going to happen this time and the regime will fall.
Kim un should be paying careful attention.
It doesn’t have to be that overt, but, yeah. They’re commies, that’s why I put “companies” in quotes. A “company” that just shipped Iranian oil at a loss could succeed.
I really don’t think China is happy with the Mulllahs though, so... who knows.
May 29, Imam Khomeini Hospital in Karaj, Iran ‘closed ‘after staffs started strike due to unpaid wages.
Also apparently Irans commanders in ‘Syria” have been ordered to take down equipment and return to Iran.
They have no money to pay their military nor government officials!
India’s thinking of closing their banking.
For them, it would really suck that they went to great lengths to set up sprawling network of overseas proxies only to cut them loose due to lack of money.
I see Iran and NK as very similar in the Chinese’ eyes.
China wants them as profitable trade and investment allies for now. Which requires their peacefulness.
Their use as military allies would come in the future.
So, IMO, China and the West both are undermining the Mullahs.
Yep.....setting fire to banks isn’t helping either.
I truly think Trumps bypassed the UN and went straight to country leaders to cease business with Iran......so I suspect we’ll hear more withdrawals from engaging with Irans economy.
HE did say he wouldn’t always tell what he’s going to do...and he keeps the media at a great distance for good reason ..about what he’s doing.
In order to pull this big of deal against Iran it’s pure genuis to keep the media out of the loop as well as the UN...
Stunning if this works!
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