A JP Morgan bulker carrying US soybean has been left circling in the Yellow Sea after failing to beat the retaliatory tariff deadline imposed by China.
The 82,026-dwt bulker Peak Pagsus (built 2013) was scheduled to unload in Dalian on 6 July, shortly after President Trump imposed tariffs on $34bn-worth of goods.
The ship, owned by JP Morgan Asset Management, rushed to the shore hoping to clear customs before China’s imposition of 25% levy on US agricultural customs, but was late.
