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Aug
23
2018
0
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Peak Pegasus Misses the Deadline

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A cargo ship carrying soy beans from Seattle to China made a story for itself as it set off on a month-long voyage. The ship, named Peak Pegasus, is owned by JPMorgan Asset Management and was racing to beat the impending implementation of tariffs that were a response in an ongoing trade war between the US and China. China’s soybean tariff won the race, and the cost of importing the soybeans rose $6 million as a result. The Peak Pegasus now sits off the coast of China while paying $12,500 a day to continue chartering the ship.

https://www.businessinsider.com/peak-pegasis-drifting-cargo-ship-is-a-victim-of-us-china-trade-war-2018-8?utm_content=buffercd8a7&utm_medium=social&utm_source=linkedin.com&utm_campaign=BI-linkedin

 


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