Topic
us sanctions
Logistics FMC Warns China's Panama-Flag Detentions Could Trigger Action Against Chinese Carriers in US Trades
The US Federal Maritime Commission has renewed warnings over China's detention of Panama-flagged vessels, describing them as retaliatory and raising the prospect of remedial measures against Chinese-controlled carriers in US trades. Panama-flagged detentions in Chinese ports rose to 136 ships in April, following a March spike where they accounted for three-quarters of all China port detentions. The dispute stems from Panama's Supreme Court decision to invalidate CK Hutchison's concession for Balboa and Cristóbal terminals.
Why ONGC Is Eyeing Two Oilfields in Venezuela; Seeks US Approval for PDVSA Acquisition
ONGC is in discussions with Venezuela's PDVSA to acquire stakes in two oilfields, subject to US sanctions approval. The Indian state-owned company seeks operational control to boost production and recover $500 million in dividends.