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
Topic |   Cosco Shipping

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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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