12.8 C
Hamburg
Saturday, June 7, 2025
Home Most Popular YM vessel explosion at Ningbo-Zhoushan port raises serious safety concerns

YM vessel explosion at Ningbo-Zhoushan port raises serious safety concerns

A major explosion has occurred on a Yang Ming boxship while berthed at the port of Ningbo-Zhoushan in China in another incident that raises serious safety concerns.

“This type of incident should never happen and is another example of how one failure in ocean container shipping can have catastrophic consequences,” says Peter Sand, Xenetal chief analyst.

Sand pointed out that if this explosion had happened at sea rather than at a berth in a port, the crew and ship would have been in even more perilous danger.

“An investigation will take place and the industry must learn from it. Container ships are used to transport hazardous and potentially explosive cargo, so it is of paramount importance that robust safety measures are in place,” he noted.

The explosion in Ningbo follows other major incidents in 2024, including the collapse of Baltimore Bridge in March and an electrical fire onboard Maersk Frankfurt during its maiden voyage through the Arabian Sea last month.

Ningbo-Zhoushan is the second most important container shipping port in China behind Shanghai, handling more than 100,000 TEUs each day.

Xeneta data shows average spot rates on the major fronthaul trade from Ningbo to the United States West Coast increased by 146% between 30 April and 1 July amid the impact of the ongoing conflict in the Red Sea region on container shipping.

Ningbo Containerized Freight Index

Average spot rates on the trade to the US West Coast have since softened, falling by 18% to stand at US$6,510 per FEU on 9 August.

Sand does not believe the explosion on YM Mobility will have a significant impact on the market.

“Ningbo-Zhoushan is a hugely important and well-connected port in the Far East, second only to Shanghai in China and on par with Singapore. It is a critical hub for container shipping and this incident is deeply concerning from a safety perspective, but it is unlikely it will have a significant impact on the market,” he stated.





Antonis Karamalegkos
Managing Editor

Latest Posts

Port of Long Beach appoints new managing director of engineering services

The Port of Long Beach has appointed Suzanne Plezia, P.E., as its new Managing Director of Engineering Services, succeeding Sean Gamette, P.E., who announced...

DP World and J.P. Morgan launch partnership

DP World Trade Finance has joined forces with J.P. Morgan to enhance access to working capital across emerging markets, addressing the persistent global trade...

Red Sea shipping traffic rebounds as Houthis limit targets

Red Sea maritime traffic has increased by 60% to approximately 36–37 vessels per day since August 2024, as Reuters reported. However, it still falls short...

CMA CGM applies new surcharge from Far East to West Africa

French ocean carrier CMA CGM has announced a peak season surcharge (PSS) for shipments from Northeast Asia, Southeast Asia, China and Hong Kong &...

China to counterbalance Panama setback through South America projects

As geopolitical tensions deepen and shipping lanes become politicized battlegrounds, China is recalibrating its approach to the Western Hemisphere. The recent retreat of CK Hutchison...
error: Content is protected !!