Deadly China blast disrupts oil, iron ore shipments at world's 10th largest port in Tianjin

Explosions that sent huge fireballs through China's Tianjin port have disrupted the flow of cars, oil, iron ore and other items through the world's 10th largest port.

Tianjin's Maritime Safety Administration says ships carrying oil and "hazardous products" were barred from the port Thursday and vessels were not allowed to enter the central port zone. BHP Billiton says the blast disrupted iron ore shipments, and Volkswagen says its cars were damaged.

Sean Liu, general manager of ICIS China, a commodities research firm, says the near-term economic impact for most industries would likely be muted. But he says if the government imposes stricter supply-chain safety standards it will raise costs in China's energy and petrochemicals industry.