China's Dalian Oil Spill May Delay 2-3 Shipments of Soy, Yigu's Feng Says

An oil spill at China’s northeast port city of Dalian may delay the offloading of two-to-three cargoes of soybeans, said Feng Lichen, a manager at Yigu Information Consulting Ltd.

The shipments were scheduled to be offloaded at the Beiliang Port in Dalian, Feng said today by phone, without saying who owned the cargoes. Authorities are limiting routes for ships traveling near Dalian as clean-up efforts proceed over the next four-to-five days, Feng said.

An incorrect procedure during the offloading of a tanker may have led an explosion July 16 that damaged two pipelines and spilled oil into the Yellow Sea, PetroChina Co., spokesman Mao Zefeng said. The cause is yet to be confirmed and an investigation is under way, he said. The oil port was closed after the blasts, said an official at one of PetroChina’s two refineries at Dalian, who can’t be identified because he isn’t authorized to speak to the media.

“In my view the oil spill and explosion will have little effect on agricultural markets,” Feng said. “There is no corn scheduled to be shipped from those ports that have been impacted and the government now said the cleanup may take four- to five days.”

Dalian-based Yigu is an agricultural consulting company.

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