The US has lifted sanctions against the Dalian units of China COSCO Shipping Corp, accused of hauling Iranian crude in violation of American restrictions. In September, restrictions were implemented on COSCO sending freight rates soaring as traders cancelled charters linked to the parent company. Four other Chinese entities were also sanctioned. Tanker stocks DHT Holdings Inc, Nordic American Tankers Ltd., Frontline Ltd. and Teekay Corp. fell following the Jan. 31 announcement, all dropping by more than 4%.
