US cargo ship Peak Pegasus waiting to offload soybean at Dalian: cargo owner

Source:Global Times Published: 2018/8/10 23:40:19

The Peak Pegasus, a cargo ship carrying tons of US soybeans which reportedly rushed to dock at a port in Dalian on July 6 hoping to clear customs before China slapped retaliatory tariffs on US imports, are waiting to offload its cargo at Dalian due to limited warehouse capacity in China, the cargo's owner Louis Dreyfus told the Global Times on Friday.

"The vessel carries a shipment of beans destined to one of our customers in China, who now has ownership of the cargo," the Amsterdam-based agricultural commodity trading house said in an email sent to the Global Times, noting that there are several vessels that are lined up ahead of the ship.

The comment comes after the Guardian reported that the cargo ship has been circling off the Chinese coast for a month in a bid to look for alternative buyers so that it can avoid paying 25 percent tariffs to Chinese customs, which translated into an additional cost of $6 million.

The ship, owned by JPMorgan Asset Management, is a 229-metre bulk carrier loaded with about 70,000 tons of US soybeans. It left Seattle on June 8 and headed to Beiliang port in Dalian, Northeast China's Liaoning Province. 

The Global Times accessed the industry website and saw that sailing records of the ship have not been updated since it arrived at port in July 6. The Guardian report said that the Peak Pegasus was due to deliver the soybeans on July 6, but missed the tariff deadline.

Industry website gangkouquan quoted industry insiders as saying that the ship will finally dock and offload cargo at Dalian's Beiliang port on Saturday. 

Global Times


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