An explosion at Ningbo Port in Zhejiang, China, one of the world's busiest ports, has raised concerns about potential disruptions in global supply chains. The explosion, which occurred on a Taiwan-operated vessel, YM Mobility, led to a two-and-a-half-day closure of the port.
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Although the port has since reopened, the impact on supply chains is expected to be significant, especially given the pre-existing congestion at major Asian ports.
Container xChange, a container leasing and trading advisor, has cautioned that the disruption will likely worsen ocean schedules and delay container availability in the coming weeks.
This incident comes at a critical time for importers, who are anticipating record peak volumes in August.
Source: www.furnituretoday.com