China suspends sanctions on Hanwha Ocean

China has suspended sanctions imposed on US-linked South Korean shipbuilder Hanwha Ocean, according to a statement. This eases immediate commercial and supply-chain disruptions in US-Korea shipbuilding ties. China had previously sanctioned five US subsidiaries of South Korea’s Hanwha Ocean in mid-October — banning transactions and causing Hanwha’s shares to drop 8% following the announcement.