Ningbo - YM Mobility Update

Dear Value Customer,

With the market drawing to a close for the traditional peak season, the shipping industry experienced a vessel explosion last week at the Ningbo Port coming out of China.  Yang Ming’s ‘YM Mobility’ was set to berth at Beilun phase Terminal Three (NBSCT) but exploded in Week 32 of 2024.  No injuries have been reported.  The preliminary assessment was that it was due to dangerous cargo (DG) aboard using a refrigerated container as a dry container substitute that didn’t require a power connection.  Further investigations are ongoing to find out the root causes of this accident.  Our local sources tell us that Ningbo Port is currently operational and open for service.

On top of the intended Peak Season Surcharge (PSS) by carriers in September, this incident has added pressure on calling ports coming out of Asia as it was just hit by Typhoon Gaemi which had just happened in late July.  Further delays will be inevitable for the next couple of weeks as carriers scramble to make adjustments on their sailing schedules out of Shanghai, Xiamen, Pusan and parts of South Asia.  Extra loaders have already been deployed in Hong Kong to pick up transshipment cargo in the affected sailing rotations.   Container shortages may follow the expected sailing schedule delays.

Should you have any further questions regarding port congestions, please don’t hesitate to reach out to your USPTI Sales Team.