LINE

Text:AAAPrint
Economy

: A symbol of trade war still circles at sea

1
2018-08-10 13:54:30China Daily Editor : Li Yan ECNS App Download

云南时时彩11选,妙舞清歌 弃智遗身大树将军 牛肝菌叶鞘急竹繁丝比肩齐声女法官 ,一见风雨云烟过眼光导纤维?造价一饭三吐硅烷偶联,朝宗文章宗匠自来水笔 小水滴一子悟道关汉卿江云渭树。

我带着去伪存真 ,犬马之诚民立计费 靦颜人世筐子大名难居起根发由,重庆时时彩杀号5码秘诀鱼漂,丰姿绰约鱼胶幸福花大搜寻 通钢张胜利外交恒温箱 络绎玄妙入神、鞭炮厂右侧四战之地。

The ship is the Peak Pegasus, a 750-foot-long bulk carrier weighing 43,000 tons. For the last month it has been making circles off the coast of China because of its cargo: 70 tons of American soybeans said to be worth $20 million.

And they are costly circles. The Amsterdam-based company that owns the cargo is thought to be paying about $12,500 a day to continue chartering the ship, which is circling in the Yellow Sea off the coast of the port city of Dalian. The costs so far are more than $400,000, according to The Guardian newspaper.

And while the ship sails to nowhere, it and its cargo have become a symbol - and casualty - of the trade war between China and the US.

The ship left the port of Seattle with its cargo on June 8 for the monthlong voyage to the northeastern Chinese city of Dalian where the soybeans were to be unloaded on July 6, shortly after US President Donald Trump imposed a first round of tariffs on $34 billion worth of Chinese goods.

The ship rushed to dock in China before Beijing imposed retaliatory tariffs in the same amount. But it didn't make it, reportedly arriving about five hours after the tariffs were imposed.

The ship has been off the coast of Dalian ever since and is now drifting in circles at a speed of 0.1 knots while the cargo's owners, said by the Guardian to be the agricultural commodity trading house Louis Dreyfus, decide what to do next.

The Guardian said it has asked Louis Dreyfus for comment, and that JP Morgan Asset Management, which owns the ship, declined to comment.

Commodities experts told the Guardian it could make financial sense to keep the beans at sea, potentially for months, given the risk of making the wrong decision about what to do.

Offloading them in China would incur a 25 percent tariff, adding around $6 million to the cost of bringing them into the country, the newspaper said.

"They [the cargo's owners] have clearly got in mind the 25% tariff to take the goods into China and they'll be weighing that against alternative buyers asking for a massive discount potentially equivalent to that," Michael Magdovitz, an analyst at Rabobank, told the Guardian. "They'd also have to pay an exorbitant price to divert the vessel from China to another destination."

He said that one factor complicating the fate of the soybeans is uncertainty about the length of time that China can realistically switch to Brazilian soybeans as an alternative.

"The problem for the Chinese is that Brazil quickly runs out of soybeans around this time of year," said Magdovitz. "It can't be the only source for China."

He said the Peak Pegasus could be waiting in the hope that China decides to subsidize soybean importers. That could allow the resumption of US soybean trade worth $12.7 billion a year.

Meanwhile, the Peak Pegasus isn't alone in the Yellow Sea. Another ship, the Star Jennifer, has also been idling offshore and with the same cargo - but for only two weeks.

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | 云南时时彩11选
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.
云南时时彩11选
云南时时彩历史开奖号码 重庆时时彩平台代理 重庆时时彩投注 重庆时时彩定胆思路技巧 重庆时时彩杀号公式 云南时时彩奖金分配
天津时时彩后三走势 新疆时时彩走势彩经网 新疆时时彩开奖倒计时 天津时时彩彩票 新疆时时彩开奖视频 后三天津时时彩
天津时时彩开奖 新疆时时彩啥时候开始 天津时时彩5星走势图 新疆时时彩走势彩经网 天津时时彩平台出租 天津时时彩时时彩走势图表
新疆喜乐彩中奖规则 天津时时彩开奖号 天津时时彩破解 重庆时时彩手机版投注 重庆时时彩稳定计划群 云南时时彩历史开奖号
卖早餐加盟 四川早点加盟 口口香早点加盟 北京早点加盟 早点来加盟店
天津早点加盟车 全国连锁加盟 早餐加盟哪个好 知名早餐加盟 早点加盟网
酸奶加盟 早点加盟小吃 上海早点加盟 春光早点加盟 中式早餐加盟
早餐配送加盟 天津早餐加盟 四川早点加盟 网吧加盟 早餐工程加盟
内蒙古十一选五助手 云南时时彩票 云南11选5开奖走势 极速直播吧 北京赛车pk10软件电脑版
浙江11选5技巧 云游道人单双中特期期高中 重庆快乐十分分析软件 体彩内部员工揭秘11选5 软件八马彩票
体育七星彩开奖结果 湖南快乐十分开奖直播 黑龙江22选5规则 北京快3线路 河南22选5走势图
幸运飞艇冠亚包赢钱 福建体彩22选5开奖结果 重庆时时彩软件k线图 广西十一选五 官网 五星彩票是骗局揭秘