We begin in China's Liaoning Province. Amid the China-US trade tensions, the Peak Pegasus, a cargo ship loaded with 70 thousand tons of US soybeans has docked in the Chinese port of Dalian. Our correspondent Xu Xinchen has more.  

Departing from the U.S. in June and loaded with 70 thousand tons of U.S. soybeans, the Peak Pegasus cargo ship finally arrived in the city of Dalian after circling off the Chinese coast for over a month.

XU XINCHEN DALIAN "The Peak Pegasus docked around midnight on Sunday —And the ship started to offload around 3 AM. The entire process is expected to last six days."

The ship reached a port in Dalian on July 6th, after China imposed 25% tariffs on U.S. soybeans in retaliation to Trump's first round of tariffs on 34 billion U.S. dollars worth of Chinese goods. Chinese soybean purchaser, Sinograin is expected to pay about six million dollars in taxes. And the firm also needs to pay additional fees to keep the vessel in the water as it waits to dock.

CHEN XUECONG, DEPUTY GENERAL MANAGER SINOGRAIN OILS CORPORATION "When our ship reached the port, there was congestion due to an increase in the number of soybean ships coming in. Our ship was unable to dock. We will pay off the tariffs according to new policies."

Chen said companies tried to stash soybean imports from countries like Brazil and Argentina as soybeans from South American countries are now in season. And the move is seen to help ease shortage in the fourth quarter — a season usually dominated by U.S. soybeans. Some 30 million tons of U.S. soybeans were expected to arrive in China this year, but Chinese buyers halted their orders after Beijing's 25 percent additional tariff.

CHEN XUECONG, DEPUTY GENERAL MANAGER SINOGRAIN OILS CORPORATION "There's definitely pressure, but we are confident that we can deal with the pressure. In the past few months, we've seen an escalation of the trade war, started by the US. To deal with that, we are actively adapting in terms of importing soybeans from regions other than the US."

However, there are still logistical challenges getting soybean shipments from other countries. Meantime, American soybean farmers have been hit hard with Chinese orders decreasing and U.S. soybean prices plunging on Friday to more than 4.5 percent, marking the worst day since July lows. Xu Xinchen, CGTN, Dalian, Liaoning Province.