• Latest
  • Trending
  • All
  • Industry
  • Compliance
  • Global Trade
  • Industry
  • Sustainability & Ethics
  • Video
  • Security & Risk
Baltimore Port Closure and Economic Impact Following Bridge Collapse

Baltimore Port Closure and Economic Impact Following Bridge Collapse

03/28/2024
Indian Exporters Turn to Europe Amid Rising U.S. Tariffs

Indian Exporters Turn to Europe Amid Rising U.S. Tariffs

10/15/2025
Officials Head to Washington for Tariff Talks

Officials Head to Washington for Tariff Talks

10/15/2025
Trump Links Tariff Policy to BRICS’ Dollar Alternatives

Trump Links Tariff Policy to BRICS’ Dollar Alternatives

10/15/2025
IMF Lifts Korea’s 2025 Growth Outlook as Tariff Impact Eases

IMF Lifts Korea’s 2025 Growth Outlook as Tariff Impact Eases

10/15/2025
Central Luzon Factory Faces Shutdown Over Tariff, Cost Pressures

Central Luzon Factory Faces Shutdown Over Tariff, Cost Pressures

10/15/2025
Shipping & Procurement Consultants Group (Inc.) Limited: Driving Global Trade and Logistics Excellence

Shipping & Procurement Consultants Group (Inc.) Limited: Driving Global Trade and Logistics Excellence

10/14/2025
Naneuleshan Apparel Limited Nominated for the Go Global Awards 2025

Naneuleshan Apparel Limited Nominated for the Go Global Awards 2025

10/14/2025
U.S. to Impose 100% Tariff on Chinese Goods After Rare-Earth Export Curbs

U.S. to Impose 100% Tariff on Chinese Goods After Rare-Earth Export Curbs

10/13/2025
U.S. to Impose New 100% Tariffs on Chinese Goods

U.S. to Impose New 100% Tariffs on Chinese Goods

10/13/2025
Markets Rally as Trump Suggests Flexibility on Planned China Tariffs

Markets Rally as Trump Suggests Flexibility on Planned China Tariffs

10/13/2025
U.S. Tariff Threat Met with Firm Response from China, Calls Grow for Dialogue

U.S. Tariff Threat Met with Firm Response from China, Calls Grow for Dialogue

10/13/2025
China Responds to U.S. Tariff Threat, Defends Rare Earth Export Policies

China Responds to U.S. Tariff Threat, Defends Rare Earth Export Policies

10/13/2025
supplychainreport
Wednesday, October 15, 2025
  • Home
  • Industry
    • Supply Chain
    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
    • Trade Agreements
    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
    • Fraud & Scams
    • Risk Mitigation
    • Security Protocols
    • Data Protection
  • ITC News
    • ITC Featured Members
    • ITC Business Councils Highlights
  • Events
    • Upcoming Conferences
    • Upcoming FREE Educational Webinars
No Result
View All Result
supplychainreport
No Result
View All Result

Baltimore Port Closure and Economic Impact Following Bridge Collapse

by Geraldine S.
03/28/2024
in Industry, Logistics & Transportation

The Port of Baltimore faces an indefinite shutdown following a collision involving the Singapore-flagged container ship, Dali, which resulted in the collapse of the Francis Scott Key Bridge. This incident has led to significant disruptions in trade, with around a dozen cargo ships trapped inside the port and approximately 70 vessels, including small cargo ships, tugboats, and pleasure craft, affected overall. Some 40 ships en route to Baltimore have been forced to reroute.

US Secretary of Transportation Pete Buttigieg highlighted the incident’s impact on the livelihoods of thousands of port workers, emphasizing the potential loss of approximately $2 million in wages daily. Last year, the Port of Baltimore managed 52.3 million tons of foreign cargo valued at about $80.8 billion, marking it as a critical node for coal exports among other commodities.

YOU MAY ALSO LIKE

Dairyking Technologies B.V. Nominated for the Go Global Awards 2025

AEGIS AI – HYPERCOM Nominated for the Go Global Awards 2025

The bridge’s collapse not only disrupts local economic activities but also has broader implications for the national and global supply chain, particularly in the automotive and agricultural equipment sectors. Efforts are underway to mitigate the impact, with the Department of Transportation establishing a freight office to coordinate responses to such incidents. Secretary Buttigieg announced plans to convene shippers and supply chain partners to promote a coordinated adaptation to these temporary disruptions.

Experts assess the long-term implications of the bridge collapse on global trade and insurance premiums. While the impact on global trade might be minimal compared to incidents like the Suez Canal blockage, the importance of safety measures and protective actions against similar future occurrences has been underscored. Enhanced ship anti-collision measures and bridge structure reinforcements are being considered to prevent further incidents.

The financial repercussions of the damage, potentially covered by a Protection & Indemnity (P&I) club through pooled insurance premiums, could influence future insurance costs and, indirectly, consumer prices. The insurance industry, accustomed to managing significant losses, anticipates potential increases in freight costs resulting from higher insurance premiums.

As investigations continue and authorities work towards reopening the port, the focus remains on ensuring the safety of maritime operations and minimizing the economic fallout from this significant disruption.

Breaking supply chain news is just a click away at The Supply Chain Report. Enhance your knowledge of international trade at ADAMftd.com with free tools.

#BaltimorePortNews #BridgeCollapse #TradeDisruptionNews #EconomicImpactNews #CargoShip

ShareTweet

Subscribe Our Newsletter

Share Your News

Whether it’s a groundbreaking achievement, a heartwarming tale, or an insightful perspective, we want to hear it. Share your news with us, and let’s amplify your voice in the digital symphony of stories.

Submit

A man is riding a bike on a hill.

The Supply Chain Report is your essential daily news website, serving as a trusted source for comprehensive coverage of the complex and ever-evolving global supply chain dynamics. Our expert team delves into the intricacies of international trade, manufacturing, logistics, importing, exporting, and supply chain management; providing in-depth analysis and up-to-date news on the latest trends, disruptions, and technological advancements affecting industries worldwide. From detailed reports on international trade through to insights into procurement strategies and inventory management, we offer valuable content that helps professionals stay informed and make knowledgeable decisions in a fast-paced market.

Each day, we bring you cutting-edge news and expert commentary that dissect significant international trade and supply chain issues Our coverage spans a wide array of sectors including manufacturing, retail, healthcare, food, consumer goods, and technology, ensuring that no matter your field, you have the strategic information needed to navigate the challenges and opportunities of today’s supply chain landscape. By synthesizing complex data and presenting actionable insights, The Supply Chain Report empowers business leaders, policymakers, and logistics professionals to optimize their operations and drive forward with confidence in an interconnected world.

Connect With Us

  • About
  • Events
  • Privacy Policy
  • Contact Us

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.

No Result
View All Result
  • Home
  • Industry
    • Supply Chain
    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
    • Trade Agreements
    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
    • Fraud & Scams
    • Risk Mitigation
    • Security Protocols
    • Data Protection
  • ITC News
    • ITC Featured Members
    • ITC Business Councils Highlights
  • Events
    • Upcoming Conferences
    • Upcoming FREE Educational Webinars

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.