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China’s Ningbo port reports explosion on container ship, state news agency says

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5 months ago

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An aerial photo is showing containers at Beilun Port in Ningbo, Zhejiang province, China, on April 11, 2024.

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BEIJING — One of China’s highest-traffic ports, Ningbo-Zhoushan in Zhejiang province, reported an explosion on board a container ship on Friday afternoon, according to state news agency Xinhua.

No casualties or injuries were announced to date.

According to the Xinhua report, the explosion took place on the bow of the Liberia-flagged container tanker YM Mobility, owned by Taiwanese Yang Ming Marine Transport Corporation, and led to flames and heavy smoke.

The fire has been brought under control, and all people on the ship were safely evacuated, Yang Ming told CNBC in a statement.

The firm said it had yet to determine a cause of the accident.

The ship had arrived in Ningbo after last calling at Shanghai, according to MarineTraffic tracking data. State media said the ship was docked at the Ningbo port at the time of the incident.

This is a breaking news story. Please check back for updates.

— CNBC’s Ruxandra Iordache contributed to this report.

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Treasury yields were slightly higher early Friday after a mixed set of data on weekly jobless claims.

The yield on the benchmark 10-year Treasury was 3 basis points higher at 4.607%, slightly down from its peak earlier in the week but back above the 4.6% level it had not breached since May. The 2-year Treasury was fractionally higher at 4.334%.

One basis point is equal to 0.01%. Yields move inversely to prices.

After the Christmas break, jobless claims data released Thursday for the week ending Dec. 21 came in 1,000 lower at 219,000, below the 225,000 consensus forecast from Dow Jones.

However, continuing claims rose by 46,000 for the week ending Dec. 14 to the highest level since November 2021.

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