Caribbean Tankers in Trouble?

21 Jul 2017:  On Monday, July 17 U.S. President Trump stated that “The United States will not stand by as Venezuela crumbles.  If the Maduro regime imposes its Constituent Assembly on July 30, the United States will take strong and swift economic actions.”  Opponents of President Maduro’s regime are highly critical of the Constituent Assembly, which would effectively have the power to re-write the constitution and strengthen the current regime’s hold on power.  The Trump administration is considering sanctions against Venezuela’s oil industry, including halting crude oil imports into the U.S.  Even though Venezuela is no longer the export powerhouse that it once was, it remains the third largest supplier of crude oil to the U.S. and sanctions could have a material impact on oil flows in the Caribbean and have ripple effects in markets far beyond Venezuela and the U.S.  This, in turn, will change the dynamics in the tanker markets. Fill out the form to read full article.