Foreign companies suspend operations
Print Edition
FOREIGN companies have suspended operations around the Tianjin port area as officials scramble to contain the toxic fallout of last week’s deadly chemical explosions.
Toyota, which has operations near the blast evacuation zone, said it had suspended three production lines, which account for over half of its China capacity, to at least Wednesday.
Thousands of Volkswagen, Toyota, Hyundai and Renault cars, most of them expensive imports, parked on lots near the blast were destroyed.
The operations of Panasonic, logistics company Singamas Container Holdings and, reportedly Deere & Co, have also been disrupted.
The list of name-brand companies impacted by the blast is testament to Tianjin’s rise, but regulatory and safety lapses at the hazardous goods warehouse that exploded have drawn attention to the sometimes shaky infrastructure China has laid down as it pursues ultra-fast growth.
Airbus built its first assembly line outside Europe in Tianjin, which turns out four A320 aircraft per month. Spokesman Jacques Rocca said its facilities, 40 kilometers from the port, were unaffected.
“We are evaluating what could be the impact in the coming weeks, but it will depend on the capability of the port of Tianjin to recover its activity,” he said.
The Tianjin Maritime Bureau said yesterday that 85 ships had been delayed or canceled, but that port traffic is now normal.
Genscape, which monitors commodity and energy markets, has documented normal oil and petrochemical taker traffic at the port. Fishing boat traffic fell by half the day after the blast, but has now partially rebounded, said Amir Bornaee, an oil analyst at Genscape.
Panasonic, which has a product development center 5 kilometers from the blast site, kept its offices closed yesterday, out of concern for employee safety. A spokeswoman said executives were still evaluating whether to open the office today.
Hong Kong-listed logistics company Singamas Container Holdings, which has two depots close to the blast site, told the stock exchange yesterday that it had suspended operations at the site and lost contact with one employee. The filing said the company did not anticipate a material impact on business.
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