Havoc in global shipping

With Cosco Shipping Energy Transportation being blacklisted by the US for moving Iranian crude, one broker sees ‘snowballing panic’ as oil traders rush to find replacement vessels. Supply down = costs up.  
So far, the parent company COSCO is not on the blacklist…but there is concern that this, the world’s largest shipping company, which moves millions of containers each week, could be. Consider the havoc that would cause!