Container xChange, an online container trading and leasing marketplace, is updating the global container trading and leasing community regarding the recent explosion aboard the Yang Ming vessel YM Mobility at Ningbo Port, China.

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.

Update on Operations: As of 00:00 on August 12, 2024, Ningbo Beilun’s Phase III Terminal has resumed loading and unloading operations following a 60-hour closure due to the explosion. The terminal has begun gradually resuming normal operations.

Christian Roeloffs, cofounder and CEO of Container xChange emphasized the critical need for preparedness in the face of such disruptions.

“For container trading companies and those involved in container leasing, this incident presents some straightforward challenges worth accounting for. The disruption at the Ningbo Port, combined with pre-existing congestion at major Asian ports, will lead to a deterioration of ocean schedules and further delays in container availability in the coming weeks. Companies must prepare for increased dwell times and a tightening of available container supplies, especially for hazardous and dangerous goods.” shared Roeloffs.

Adrian Degode, Customer Success & Operations Lead, added: “Container xChange’s platform facilitates communication and collaboration between container traders and leasing companies worldwide, helping to coordinate responses and find solutions quickly. Our network can help users secure containers from alternative sources to manage inventory and avoid delays.”

Recommended Actions:

• Reroute Shipping Routes: Evaluate and explore alternative shipping routes through less congested ports to avoid delays.
• Increase Safety Protocols: Prioritize rigorous inspections and adherence to safety protocols, especially for hazardous goods. (Read our detailed blog post [here].)
• Stay Informed: Regular updates from shipping partners and port authorities are crucial for real-time operational adjustments. Maintain open lines of communication to respond promptly to changes.
• Plan for Extended Dwell Times: Anticipate longer dwell times at major ports and adjust inventory and delivery schedules accordingly. Consider increasing inventory levels to mitigate disruptions.

Container xChange will continue to provide updates and insights as the situation evolves.

“In light of the recent disruption, Container xChange’s insurance offers essential protection against the risks of total loss, damage, and mysterious disappearance of containers. Our comprehensive coverage includes protection for both total and constructive total loss, general average, and more, ensuring that container traders and leasing companies can mitigate financial impacts and maintain operational stability. Our flexible billing options and claims support are designed to offer peace of mind during these challenging times,” added Degode.