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Baltimore port: What impact will bridge collapse have on shipping?

A major bridge collapsed in the U.S. port of Baltimore in the early hours of Tuesday after being struck by a container ship, plunging automobiles into the river listed below.

Traffic was suspended at the port until further notification, Maryland transportation authorities said.

PORT INCLUDES

It is the deepest harbor in Maryland's Chesapeake Bay, closer to the Midwest than other East Coast ports, with five public and 12 personal terminals, according to Maryland federal government website.

It is one of the tiniest container ports on the Northeastern coast, managing 265,000 containers in the fourth quarter of in 2015, according to container shipping expert Lars Jensen.

The Port of New York and New Jersey managed around 2 million containers in that same period, and Norfolk Port in Virginia managed 850,000, so the flow of containers to Baltimore can likely be redistributed to larger ports, Jensen stated.

EXISTING STATUS OF FREIGHT SHIPS INSIDE PORT

More than 40 ships stayed within Baltimore port, including small cargo ships, pull boats and enjoyment craft, information from ship tracking and maritime analytics company MarineTraffic programs.

At least 30 other ships had signified their destination was Baltimore, the data showed.

IMPORTS

It is the busiest U.S. port for car deliveries, handling more than 750,000 lorries in 2023, according to data from the Maryland Port Administration.

The port handles imports and exports for significant car manufacturers including Nissan, Toyota, General Motors , Volvo Vehicle, Jaguar Land Rover and Volkswagen, consisting of luxury designs for Audi, Lamborghini and Bentley.

It is also the biggest U.S. port by volume for handling farm and building and construction equipment, as well as agricultural products.

Imports of agricultural products totaled 3 million tonnes last year, including 1.2 countless sugar and salt, along with gypsum, fertilisers and forest products, according to Ishan Bhanu, lead agricultural commodities expert at Kpler.

U.S. sugar company ASR Group, which operates a refinery near the center of Baltimore, stated it does not expect short-term effects to its operations.

Other leading imports were paper/paperboard and plywood/veneer/particle board, the Maryland authority website shows.

EXPORTS

The Curtis Bay Piers coal terminal is around 3 miles from the highway which ran over the bridge.

During the first 9 months of 2023, Baltimore was the second-biggest port for U.S. coal exports, behind Norfolk, Virginia, according to the latest information from the U.S. Energy Details Administration (EIA).

Baltimore exported about 20.3 million short lots of coal, up from 14.3 million short tons during the exact same duration in 2022.

About 13.3 million brief lots of exports from Baltimore throughout the first 9 months of 2023 were steam coal and 7.0 million brief heaps were metallurgical coal

The Baltimore port also exports smaller sized amounts of other metals and minerals.

Other leading export products by weight in 2022 were melted natural gas (LNG), waste-paper, ferrous scrap, and automobiles/light trucks, according to Maryland government information.

Cove Point melted natural gas (LNG) terminal, which is upstream from the bridge, is the nearby LNG terminal.

The terminal's operator, U.S. energy firm Berkshire Hathaway Energy, stated operations were not impacted by the collapse of the bridge, adding it continues to work carefully with the U.S. Coast Guard to ensure that the facility is running safely.

ICIS ship tracking information reveals Cove Point normally exports about 500,000 tonnes of LNG per month.

CRUISE LINER

It is likewise a cruise terminal, with Norwegian, Carnival and Royal Caribbean, all utilizing the port for Caribbean, Canadian, and other Atlantic destinations.

In 2023, cruises carrying more than 444,000 passengers departed from the port, the Maryland federal government website states.

LONDON METAL EXCHANGE WAREHOUSES

In Baltimore warehouses signed up with the London Metal Exchange, there are 756 metric lots of nickel, 150 lots of tin and 50 tons of copper, LME data programs.

BUNKER FUEL

Bunker fuel traders stated deliveries to the port of Baltimore and Annapolis Anchorage are most likely to be impacted from the suspension of traffic and ports in Pennsylvania and Virginia could serve as prospective bunkering options.

This might affect vessel schedules and might cause an boost in bunker fuel costs at the alternative ports, depending upon for how long the port of Baltimore stays unattainable.

(source: Reuters)