Fate of Ship That Dashed Across Pacific in Vain Highlights Tariff Troubles
Reports in July of a plucky bean-filled ship called Peak Pegasus and its trans-Pacific dash to unload its cargo at the Port of Dalian before punitive tariffs came into force was almost the “feel-good” commodities story of the summer, but it was not to be.
The ship arrived hours too late, and spent the last month moored off China’s east coast.
Shipping data indicates that Peak Pegasus finally docked on Friday, very likely in preparation to unload its cargo of 700,000 metric tons (772,000 U.S. tons) of U.S. soybeans. The buyer, thought to be state-owned China Grain Reserves Corp., will pay the 25% tariff, likely adding around $6 million to the cargo’s cost, according to British newspaper The Guardian.
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