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Source: Reuters

More soy cargoes queue at China's ports - CNGOIC

Published: 16 Jun 2010 18:54:33 PST

BEIJING, June 17 - More soy cargo arrivals recently have worsened congestion at ports in the northern province of Shandong, with as many as nine ships queuing at Qingdao port, according to an official think tank.

As many as eight cargoes were waiting to be unloaded at Rizhao port, also in Shandong, said the China National Grain and Oils Information Centre (CNGOIC).

Traders told Reuters that ports in Dalian in the northeast and Nantong in the east were also packed with large numbers of soy cargoes, with Dalian traders anticipating unloading delays. [ID:nTOE65304Y]

"Following the recent increase in cargo arrivals, some were held up at ports while (soy) stocks with crushers remained high," said the think tank in a report on its website (www.grain.gov.cn).

It estimated a record 6 million tonnes of soybeans or 109-120 cargoes would arrive this month.

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