Tianjin’s boxport back up and running

Tianjin’s boxport back up and running

Tianjin’s port operations are gradually getting back on track following the giant explosion that ripped through the area last Wednesday night. The 113 ships moored just outside the harbour this morning, according to Bloomberg data, are expected to thin out in the coming days.

German boxline Hapag-Lloyd has issued a latest update on the situation at the busy northern Chinese hub.

“As of today,” it reported, “terminal operations and custom procedures have resumed operations. However, all hazardous cargo handling and related activities are subject to the local authorities’ approval and further instructions.”

The line is taking no new hazardous bookings from and to Tianjin until further notice.

Tankers are still not allowed to call at the port.

With damage in the area expected to be as high as RMB10bn local insurance companies and the listed vehicles of Tianjin port suffered a beating on bourses around China today. Tianjin Port’s shares slid 9% in Hong Kong, while insurers such as Ping An, China Life Insurance and China Pacific Insurance all saw their share prices fall.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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