Copper-Laden Ships Race To Reach U.S. Ahead Of Tariffs

At least four ships carrying copper are racing to reach US ports before August to beat a planned 50% import tariff on the metal, Breet LoGiurato reported for Yahoo Finance.

The urgency to deliver the copper has intensified over the past two weeks following Trump’s announcement that the tariff would take effect on August 1. I Photo: Identa Group

The shipments mark a last-minute scramble by merchants trying to capitalize on an arbitrage opportunity that has disrupted the global copper market since President Trump first proposed the tariff.

The urgency has intensified over the past two weeks following Trump’s announcement that the tariff would take effect on August 1.

One of the vessels, the bulk carrier Kiating, departed Townsville, Australia with 8,000 metric tons of refined copper and is now headed for Hawaii, according to shipping data from Kpler.

The original destination was New Orleans, but the ship changed course after Trump’s announcement — shaving nearly 20 days off its journey.

While Kpler could not identify the cargo’s owner, it said that two other recent shipments from Townsville contained copper from Glencore Plc’s Mount Isa Mines. Analysts believe the Hawaii stop may be a strategic move, but clearance procedures there could be a challenge.

“It’s hard to say how efficient clearance will be in Hawaii, given that it’s such an atypical destination for this cargo,” said Ben Ayre, lead dry bulk shipping analyst at Kpler.