On August 20, Yang Ming Marine Transport Corporation (Yang Ming) released an announcement on its official website, stating that on 9 August 2024, whilst MV YM Mobility was alongside Phase III Terminal of Ningbo Port, an explosion occurred from cargo container(s) at her bow area.
Apparently, the incident has given rise to General Average and the Shipowners have decided to declare General Average (GA) and have appointed Richards Hogg Lindley to collect the necessary GA securities from the concerned in cargo, etc.
general average refers to the special sacrifices and expenses directly caused by the intentional and reasonable measures taken for the sake of common safety when the ship’s cargo or other property encounters a common danger during the same sea voyage. The owners of the ship, cargo, and freight then contribute proportionally to cover the losses.
Previously, Yang Ming had issued a statement that YM Mobility was operating in Ningbo Port on August 9 when a container explosion occurred on board, and that the relevant authorities were investigating the cause of the incident and the responsibility, and that the amount of the loss depended on the subsequent handling of the incident, and that the initial estimation ranged from $1.5 million and $9.5 million.
Yang Ming explained that after the accident, the company responded quickly and took immediate contingency measures in cooperation with Ningbo Port authorities and local firefighting agencies. By the day of the announcement, the fire had been completely extinguished, and the specific cause of the accident is still under investigation by a third-party professional institution.