Finance

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

Published

3 months ago

August 9, 2024

Business Finance News

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

Nurphoto | Nurphoto | Getty Images

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.

Finance

Druckenmiller bought regional banks but health-care pick is his biggest bet

Published

3 hours ago

November 18, 2024

Business Finance News

Key Points

Billionaire investor Stanley Druckenmiller built a sizable position in regional banks and made one health-care name his biggest position last quarter.
Druckenmiller bought $115 million worth of shares in the SPDR S&P Regional Banking ETF in the third quarter, making it the firm’s seventh-biggest holding.