【SMM Nickel News】Cargo Ship "DEVON BAY" Carrying 51,000 Tons of Nickel Ore Capsizes in South China Sea

Cargo Ship "DEVON BAY" Carrying 51,000 Tons of Nickel Ore Capsizes in South China Sea On January 23, 2026, the cargo vessel "DEVON BAY" capsized approximately 55 nautical miles northwest of Huangyan Island, with 21 Filipino crew members on board. Owned by Singapore-based K Line Pte Ltd (a subsidiary of Japan’s K-Line), the vessel was reportedly transporting approximately 51,000 tons of nickel ore loaded from the Capunan Wharf in Gutalac, Zamboanga del Norte, and was en route to Yangjiang, Guangdong. Following a distress call, the China Coast Guard (CCG) immediately dispatched two vessels to conduct search and rescue operations. This incident highlights the ongoing maritime risks associated with transporting liquefied nickel ore during the monsoon season.

According to SMM’s calculations, the 51,000 wmt of nickel ore lost on the "DEVON BAY" represents only about 1% of China’s average monthly nickel ore imports, or approximately 425-490 nickel metal tonnes. While the impact on total supply and demand is limited, the incident carries significant systemic warning signs for the industry chain. The accident underscores the severe risks of maritime transport during the rainy season and is expected to prompt stricter moisture content monitoring by maritime authorities, thereby driving up offer prices.