The turmoil caused by U.S. sanctions on Chinese shipping companies in the global seaborne freight market is now impacting the way oil is purchased and traded. Measures against units of China’s COSCO Shipping Energy Transportation Co., the world’s largest vessel owner, have sent rates to haul crude surging. What’s followed are a series of aftershocks affecting everything from oil refineries to arbitrage flows across the world. Below are some of the unintended consequences as the Trump administration seeks to crack down on Iran’s oil shipments -- and those who facilitate them. Soaring Freight The cost of chartering a ... (full story)