US-Iran talks show progress, but shipping fears another ‘Groundhog Day’
- Chinese shipping stocks surged again on Monday after mediators Qatar and Pakistan reported ‘encouraging progress’ in US-Iran talks toward a final deal
- Industry observers remain deeply sceptical, with Sea-Intelligence likening the talks to ‘Groundhog Day’ and Xeneta warning that the recovery of MEG box shipping services will stretch into mid-September, even in a best-case scenario
- Unresolved questions are being flagged over war risk premiums, strait toll enforcement, congressional approval of sanctions relief and a 30-day minesweeping window that must close before safe transit can resume
Signing a deal took a weekend; rebuilding the shipping industry’s trust will take a great deal longer
