Port of Baltimore Closure may result in $10 billion of lost trade says Russell

Our analysis can reveal that the continued closure of Baltimore Port may mean a loss of trade of up to $10 billion for the port.


Baltimore Port may lose out on at least $10 billion in lost trade due to the continued closure of the port following the collapse of the Francis Scott Bridge in March, according to Russell’s ALPS Marine analysis. 

The bridge collapsed after a collision with the Dali container ship, chartered by Maersk. 

Russell’s analysis was an upward revision of a previous analysis of $8 billion, which was for a period of six weeks, with the new analysis extending to the 13th May.  

Further ALPS Marine analysis has shown that there is a loss of car exports valued at $1.83 billion (£1.46 billion) and $417 million (£333 million) in coal exports. 

Baltimore is a key port in the United States, with an annual trade of $81 billion (£64 billion) according to our ALPS Marine data.  

The port is also one of the leading US trade hubs for cars, with $24 billion (£19 billion) of vehicles exported and imported annually according to our ALPS Marine data. 


Post Date: 15/05/2024

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