Deadly China blast disrupts world's 10th-largest port
Explosions that sent huge fireballs through China's Tianjin port have disrupted the flow of cars, oil, iron ore and other items through the world's 10th largest port.
Tianjin's Maritime Safety Administration said ships carrying oil and "hazardous products" were barred from the port yesterday and vessels were not allowed to enter the central port zone. BHP Billiton said the blast disrupted iron-ore shipments, and Volkswagen said its cars were damaged.
Sean Liu, general manager of ICIS China, a commodities-research firm, said the near-term economic impact for most industries would likely be muted. But he said if the government imposes stricter supply-chain safety standards it will raise costs in China's energy and petrochemicals industry.