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 ...
This is why they’re all striking...they’re not getting paid.
I had a case of pinched shipping once.
Pretty painful...
It seems he is sending a message directly to global business leaders. Political leaders may huff and puff, but cannot force big businesses to ignore U.S. sanction. No government guarantees can insulate them from U.S. retaliation.
However he’s doing it it’s working.
He cut the media out of his loop early on....imagine how they’d be all over him on these foreign policies etc he’s carrying out...instead they’re chasing after Roseanne and Daniels BECAUSE he won’t give them the scoops they were once fed daily by Obama. They spent 8 years being spoon fed exactly what they wanted to hear so much they haven’t a clue how to work a story or find one anymore!
LOL...isn’t that the truth!
I’ve never seen in my life a media so self-absorbed that the stories they report are about them. Trump is a master a handling them....and they know it.
But... there will be a glut on the market of shipping and they’ll do it at a loss.
And would that be the Cho family shipping company in China...owners of a fleet of freighters....and in-laws to Senator Mitch McConnell.
I do, often. He is so much the right man at the right time.
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I am.
I often wonder how I would have been able to survive a President Hillary.
You posted twice.
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