Liquified natural gas ( LNG ) freight rates increased by between 7 % and 11 % recently after the sanctions imposed sanctions on two divisions of Chinese shipping firm COSCO . The US claimed COSCO Shipping Tanker ( Dalian ) Co and subsidiary COSCO Shipping Tanker ( plc ) Seaman & Ship Management Co were carrying Iranian crude . US - listed Teekay LNG , whose partner China ##SC Shipping is joint - owned by plc , was also affected by the sanctions . The joint venture runs containers that are crucial to transporting LNG from Novatek ’s Yamal terminal in northern Russia .
Liquified natural gas (LNG) freight rates increased by between 7% and 11% recently after the US imposed sanctions on two divisions of Chinese shipping firm COSCO. The US claimed COSCO Shipping Tanker (Dalian) Co and subsidiary COSCO Shipping Tanker (Dalian) Seaman & Ship Management Co were carrying Iranian crude. US-listed Teekay LNG, whose partner China LNG Shipping is joint-owned by COSCO, was also affected by the sanctions. The joint venture runs vessels that are crucial to transporting LNG from Novatek’s Yamal plant in northern Russia.