US Energy policy, along with Donald Trump’s classic head-fakes, almost seems destined to confuse participants in the oil business, with obvious impacts on shipping which serves it.
The US has indicated that new business activity with Iran after 8 May within the wind-down period could be result penalties under secondary sanctions, and a number of major shipping companies including MSC and Maersk Tankers have stopped taking new Iran business.
The US Congress agreed, finally, and President Donald Trump signed, surprisingly to some observers, an Omnibus Spending Bill, which consolidates the Federal budget, and will keep the US government funded until Q3 of this year.
The US Federal Maritime Commission (FMC) is setting up a regulatory reform task force in line with an Executive Order from President Donald Trump.
One of Cyprus’ leading shipping figures maintains that while global shipping has entered uncharted waters following the election of US president Donald Trump and the Brexit referendum, panic is not warranted.
The start of the US Presidency of Donald Trump has been anything but business as usual and understanding the implications of his Executive Orders is rapidly turning into a full time job for some.
At this year’s Marine Money Forum in New York, only several hours after Donald Trump had emerged as the victor in the election, one questioner, citing market rumours, asked keynote speaker, the noted investor Wilbur Ross, “Sir, are you considering a job in the Trump administration?” His answer, “Right now, I am busy with my day job.”