The Francis Scott Key Bridge in Baltimore (USA) collapsed after a cargo ship crashed into it on Tuesday. Maryland officials say it will take time to pull the debris from the water and repair the bridge itself, but how long is unclear. Baltimore is one of the largest trading ports in the United States. How will this affect the US economy?
According to the American publication “The Washington Post”, in 2021 was the 17th in the country in terms of tons handled. in 2023 52.3 million were overloaded in it. tons of cargo from abroad for approximately 80 billion US dollars, it employs about 15 thousand people. people. The port’s most important cargo, in which it leads the US, is cars and their parts, but also heavy machinery, electronics, and various metals. in 2022 750 thousand were transshipped in the port. cars.
Most of the consequences will have to be borne by other US ports. They face a twofold problem. First, they will divert ships that are currently unable to enter Baltimore Harbor while the bridge debris is being removed from the bay (it is not yet known how long that will take). Second, for the same reason, other ships that stopped here before Tuesday’s disaster cannot leave Baltimore. Some of them planned to stop at other ports in the country before leaving the US, which will now have to push back their already congested schedules or wait for goods arriving by truck from Baltimore (which also means more load on the country’s roads and main transport hubs). As a result, supply chain disruptions will move from Baltimore to other parts of the US.
The Port of Baltimore is also the nation’s second largest exporter of coal. The US newspaper “The Wall Street Journal” calculates that in 2023 27 percent were shipped from here. of total US coal exports. Shares of Consol Energy and CSX, two Pennsylvania coal companies that also have terminals at the port, fell on Tuesday. Sugar and car traders are a little less worried.
Other goods, such as fuel, cannot be transported through tunnels, so due to the changed and much longer routes, their price is also expected. There is also concern about the agricultural sector, for which March, before the start of the new season, is one of the most important months for buying new equipment and fertilizers.
The American Trucking Association estimated in a statement that almost 5,000 vehicles will have to be diverted per day. of trucks carrying an average of about 28 billion goods worth US dollars. This will increase the price for both shippers and consumers. “Besides the obvious tragedy, this incident will have a profound and lasting impact on the region,” the statement said. It is not yet clear how long it will take to rebuild the bridge.
The FS Key bridge collapsed on Tuesday night when the freighter Dali rammed into one of its abutments due to a malfunction. All crew members were reported to be safe, but at least eight people fell from the bridge into the water while repairing the road surface of the bridge. Two were rescued, but the other six were declared dead late Tuesday after all hope of finding them alive had been lost. The search for them continues.
