Cosco Pacific invests in Yangtze terminal

Yang Ming has declared General Average for YM Mobility following an explosion at Ningbo Port, requiring all stakeholders to share the costs of the incident.

The fire on board YM Mobility seems to be under control with ‘no visible flames on board’ as cooling efforts continue following Friday’s explosion, according to Yang Ming.

A powerful explosion struck a container ship docked at Ningbo-Zhoushan Port.

Following on from news that DP World’s Antwerp Gateway facility is expanding (see page 1), CTO Jef Lambregts explained that the terminal splits its yard volume roughly 50:50 between the ASCs and traditional straddle carrier yard, and this “combination gives us optimum flexibility” for what is, like Rotterdam World Gateway, a common-user facility. DP World is the biggest shareholder in Antwerp Gateway with (following ZIM’s departure from the consortium last year) a 60% stake. Cosco Pacific owns 2

The development of new ports and railways in East Africa could be about to shake up the region’s long-established status quo.

China’s economy and its trading/logistics environment are going through a period of change that looks set to continue.