China’s Ningbo Port is now operational again, and as of midnight on August 12, 2024, resumed loading and unloading operations.
The port had been closed for 60 hours following an explosion on the Yang Ming vessel YM Mobility. It is one of the busiest ports in Asia and handled 19.17 million TEU in the first half of 2024 alone.
Yang Ming asserted as recently as August 12 the cause of the incident was still under investigation, although early findings indicated the explosion occurred in a container near the bow that was loaded with dangerous goods.
The almost three-day disruption has only added to the stress currently facing Asia’s ports, with congestion and low container supply already unsettling the industry.
Co-Founder and CEO of Container xChange Christian Roeloffs says the knock-on effect from Ningbo Port’s closure will need to be prepared for by companies across the region.
“For container trading companies and those involved in container leasing, this incident presents some straightforward challenges worth accounting for,” Roeloffs says.
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.”
Container xChange recommended the following actions for companies likely to be impacted by the closure and likely continuing delays.
- 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.
- 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.
No casualties have been reported from the incident.
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