The fat of at least 15 oil tankers idling off the coast of China holds the key to determining the path of global freight rates. Photo: Handout
The fat of at least 15 oil tankers idling off the coast of China holds the key to determining the path of global freight rates. Photo: Handout

A dozen oil tankers have been idling off China’s coast for more than a month, holding the fate of global freight rates in their hands

  • At least 15 oil tankers have been sitting idle off the eastern coast of China, some for more than a month
  • They are owned by a unit of China’s shipping giant Cosco, under sanction by the US in late September for carrying Iranian oil

The fat of at least 15 oil tankers idling off the coast of China holds the key to determining the path of global freight rates. Photo: Handout
The fat of at least 15 oil tankers idling off the coast of China holds the key to determining the path of global freight rates. Photo: Handout
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