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Mobile WebSiteAccording to Bloomberg News, as the Sino-US trade war heats up, China will raise retaliatory tariffs on US$60 billion of US goods from June 1. At least 10 merchant ships are accelerating to China ports.
According to the report, the "Fiji" bulk carrier waited for a week before entering the port of Dalian. On May 12, the ship was unloaded with 67,113 tons of US soybeans. According to the US Department of Agriculture (USDA), China has purchased but not arrived at about 7.4 million tons of soybeans, in addition to 468,000 tons of US corn, 103,000 tons of pork and 704,000 bales of cotton have been sold but not yet shipped to China.
Ken Morrison, an independent analyst at St. Louis, said that recently recorded sales have been slow to ship and may be subject to increasing risk of cancellation.
There is also a similar anxiety in US cotton orders. Jody Campiche, vice president of the Economic Policy Analysis Department of the National Cotton Industry Association (NCCA), said: "Everybody is worried about what we sell to them, they don't want it."
Kurt Kovarik, vice president of federal affairs at the National Biodiesel Board, said: "Although China is currently only a small number of emerging markets for US biodiesel producers, the proposed tariffs have increased the disadvantages of our industry and US soybean growers. ""
In the energy sector, the LNG ship "Iberica Knutsen" is also speeding up as LNG is also locked in the Chinese tariff list. According to Genscape, the LNG ship left Chevron's Sabine Pass terminal on April 10 and is heading to Taizhou. However, Kpler SAS, which tracks shipments of goods, believes that the ship is actually heading to Taiwan, which will be more economical considering existing tariffs.
The super-large oil tanker "Alsace" is heading for Qingdao port at full speed. The ship was previously loaded with US crude oil in the Caribbean Sea, carrying approximately 2 million barrels of cargo, and the scheduled date of arrival at the destination is May 21.
In July last year, in order to arrive at Dalian Port before the new tariff came into effect, a cargo ship "Peak Pegasus" carrying US soybeans traveled to China at its maximum speed, causing world concern. Since the "Peak Pegasus" failed to arrive in China before the tariff was imposed, the ship has been stranded at sea for about a month, waiting in line to unload.
