China– The North Eastern port of Dalian which had been closed to freight traffic has just reopened. Friday there was after a huge explosion and fire left the oil terminal there in flames. The explosion was caused by a pipe from the tanker caught fire. The pipe exploded and then burst an adjacent pipeline which also ignited.
There is a cleanup underway with about 800 vessels. It is reported that they hope to have the clean up completed by July 24th. At this point in time, due to heavy winds and rains, the 800 vessels have exited the area until the weather improves.
Both Chinas oil and grain markets are affected by the closure of this port.
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