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Tianjin port's commodity operations resume after blasts - sources

Published 2015-08-17, 04:10 a/m
© Reuters.  Tianjin port's commodity operations resume after blasts - sources
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* Oil, gas and iron ore imports resume after disruptions
* Strategic oil reserves in the region not affected
* But damaged logistics affect container handling
* Tianjin port already suffered from delays before
explosions

SINGAPORE/SHANGHAI, Aug 17 (Reuters) - Many operations have
resumed at China's Tianjin port, trade sources said, after
explosions last week that killed more than 100 people and
disrupted business at what is an important oil, gas and bulk
import harbour for Asia's biggest economy.
The explosions on Aug. 12 led to the disruption of all
chemical and oil tanker discharges at the port, and imports of
iron ore were also affected.
But shipping data from Reuters on Monday showed that tankers
were discharging again, with traders and shippers confirming
that operations had restarted over the weekend.
Port officials were not immediately available for comment.
The Tianjin Maritime Safety Administration's traffic control
department said in a statement: "At present, ships apart from
those carrying hazardous goods or bunker oil are entering and
exiting Tianjin Port's north section normally. All other berths
are operating normally according to sailing plans."
Reuters spoke to several captains of tankers and dry bulk
freighters that are currently in the Tianjin port region, either
waiting to discharge or to leave the port, and all said that
operations now seemed to be broadly back to normal.
One shipbroker said he had not heard of any problems with
oil operations at the port on Monday. "So far, so good," he
said. An oil trader also said he had not heard of any trouble
with oil loading at Tianjin on Monday.
Located close to Beijing, Tianjin is one of eastern China's
most important oil and gas terminals, with large commercial and
strategic oil storage facilities as well as a floating storage
and regasification unit (FSRU) for liquefied natural gas (LNG)
imports.
It is also an important point of entry for iron ore, a key
ingredient for China's giant steel-making industry.
A spokesman for Australian ore miner Fortescue Metals Group
FMG.AX said: "To date, there has been no impact on Fortescue's
iron ore cargoes going through the Port of Tianjin."
Traders said the strategic petroleum reserve (SPR) facility
at Tianjin had not been affected by the explosion.
China, the world's biggest crude oil consumer alongside the
United States, imports nearly 60 percent of the crude it
consumes. It is constructing vast new oil storage sites to build
up its strategic reserves so that eventually it will have 90
days' worth of import demand in stock.
Although ship entries and exits seemed to be returning to
normal, shippers said the blasts had worsened the port
congestion Tianjin already suffered from.
China Ocean Shipping Company, China's largest shipping
group, said its ships anchored at Tianjin had not been affected
but that some of its facilities in the area suffered varying
levels of damage.
Singamas Container Holdings Ltd 0716.HK said its logistics
depot had temporarily suspended operation. ID:nL3N10S1SF

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