The collapse of the Francis Scott Key Bridge on the Port of Baltimore, one of the busiest harbours in the U.S., paused shipping and immediately halted all vessel traffic in and out
The Francis Scott Key Bridge (informally, Key Bridge or Beltway Bridge) was a steel arch continuous through truss bridge that spanned the lower Patapsco River and outer Baltimore Harbor / Port in Maryland, United States.
The overall economic toll is likely to be higher as billions of dollars of goods are rerouted amid the prospect of supply chains being snarled for months
The Port of Baltimore is the ninth largest U.S. port by overall trade volume.
In 2023 alone, it moved around 50 million tonnes of goods between the U.S. and other countries, much of it in large shipping containers, like those stacked on the ship that rammed into the bridge.
Although it’s smaller than other ports on the East Coast and in the Gulf of Mexico, it still plays a critical role in processing U.S. international trade traffic.
That’s especially true for some products, such as automobiles, heavy machinery and coal.
It also handles a large share of U.S. sugar imports
Short term impact
The immediate impact will be felt by the workers in the port and others who depend on it
Companies and consumers should expect some delays for packages that would have otherwise been processed by the port.
Long term impact
Houthi attacks on ships in the Red Sea and Panama Canal bottlenecks have lengthened delivery times and increased costs for companies that rely on East Coast ports.
The pause in maritime traffic at the Port of Baltimore adds one more point of pressure for trade in the region.
This may lead more shippers that have a choice to send more freight through West Coast ports, which have not suffered much from the Red Sea attacks and Panama problems
This could also mean more business for trucking and rail companies if it means they have to transport more goods from the West to East Coast.
Unlike the Red Sea attacks or the impact from the COVID-19 pandemic, which have led to lingering supply chain problems, fallout from the bridge collapse will be temporary
COMMENTS