Shipping companies gain as US, China reach deal to cut tariffs

Shares of U.S. shipping companies rise in premarket trade after Washington and Beijing agree to temporarily slash reciprocal tariffs

The U.S. will cut extra tariffs on China to 30% from 145%, while Chinese duties on U.S. imports will fall to 10% from 125%; measures effective for 90 days

Shares of Navios Maritime Partners NMM.N climb 4.71% and Golden Ocean Group GOGL.O rises 4.8%

Shares of oil tanker cos Teekay Tankers TNK.N up 3.8%, International Seaways INSW.N rises 3.6% and DHT DHT.N gains 1.4%