China's Ningbo Terminal Closure to Slow Global Supply Chain

Shanghai, China, August 13, 2024–ContainerxChange, an online container trading and leasing marketplace, is alerting the global container trading and leasing community to the serious repercussions of the recent explosion aboard the Yang Ming vessel YM Mobilit at Ningbo Port, China.

This incident, which has led to the closure of one of the world’s busiest container terminals, is expected to have significant ripple effects across global supply chains, especially on the main trade lanes out of Asia. 

On August 9, 2024, a container loaded with hazardous materials exploded aboard the YM Mobility while it was berthed at Ningbo Beilun’s Phase III Terminal. The explosion, which involved organic peroxide materials, has led to the closure of the terminal until further notice.