The bridge collapse that has indefinitely halted the flow of ships in and out of the Port of Baltimore could hurt the local economy, strain supply chains and scramble deliveries along the US East Coast.
The Key Bridge collapsed after a container vessel called Dali collided with one of its supports. Dali is operated by Singapore-based Synergy Group but had been chartered to carry cargo by Danish shipping giant Maersk.
Baltimore ranks as the ninth biggest US port for international cargo. It handled a record 52.3 million tons, valued at $80.8 billion, in 2023. According to the Maryland state government, the port supports 15,330 direct jobs and 139,180 jobs in related services.
Baltimore is also the leading US port for farming and construction machinery, as well as imports of sugar and gypsum, and the second in the country for exporting coal.
In the long run: Despite the potential for some increased cost of shipping and some traffic tie-ups and congestion, Mark Zandi, chief economist for Moody’s Analytics, said the disruptions aren’t likely to cause problems for the US economy as a whole since the goods are likely to find other ports.
Part of the issue in determining the potential added costs to shipping is the unknown of how long the port stays closed. And it’s too early to say when ships will begin calling on the port once again, Maryland Gov. Wes Moore said Monday.
Elaine Hadley is a dedicated journalist covering the ever-evolving landscape of U.S. news. With a keen interest in politics and a commitment to uncovering the truth, she provides insightful commentary and in-depth analysis on domestic issues. When not reporting, Elaine enjoys exploring the diverse cultures and landscapes of the United States.
