On the early morning of March 26, 2024, a container ship named "DALI" lost power shortly after departing from the Port of Baltimore, USA, and subsequently collided with the Francis Scott Key Bridge, causing the structure to collapse.
The accident resulted in a prolonged closure of the Port of Baltimore, significantly impacting the shipping industry. Insurance companies are bracing for potential massive losses, with analysts estimating the total insurance claims could be between $2 billion and $4 billion. The owners of the "DALI" have declared general average, indicating that the financial consequences of the salvage and repair will be shared among all cargo owners.
Data from Clarkson Research shows that the volume of ships docking at the Port of Baltimore has dropped significantly. Currently, only about one ship, totaling 50,000 gross tons, docks per day—a more than 80% decrease from the pre-accident average of six ships per day and a total of 300,000 gross tons (excluding tugs). Currently, only certain ships that do not need to pass under the bridge, such as car carriers at Sparrows Point outside the main port area, are able to operate normally.
To address the situation, U.S. authorities have opened an alternative route for "commercially essential vessels" to use temporarily. However, this channel has a maximum draft limit of 20 feet (approximately 6 meters) and a clearance height of 135 feet (approximately 41 meters), which is insufficient for all cargo ships to operate normally. The U.S. Army Corps of Engineers expects to complete the debris removal of the bridge by the end of May and reopen the main channel of the Port of Baltimore, which is 50 feet (about 15 meters) deep. Until then, a temporary 35-foot (approximately 11 meters) deep channel is expected to open by the end of April to maintain one-way traffic in and out of the port, primarily serving container barges and some ro-ro ships heading to nearby ports.
The ongoing disruption of trade caused by the Baltimore bridge accident continues to unfold, drawing the attention of the FBI for a criminal investigation. Insurance companies are also facing the pressure of potentially massive claims due to the accident. Clarkson Research data highlights the critical role of the Port of Baltimore as the ninth largest trade port in the U.S., not only as the country's largest importer of automobiles and the second-largest exporter of coal but also accounting for about 2% of U.S. container and chemical trade. However, the recent bridge collision has severely affected the port's operations.
In terms of auto imports, the Port of Baltimore has been particularly hard hit. Currently, apart from the Sparrows Point port outside the main harbor area, other docks can no longer accommodate ships. Consequently, car carrier operators have been forced to divert to other East Coast ports such as Brunswick, Jacksonville, New Jersey, Philadelphia, or Charleston to continue their operations.
Moreover, all coal exports from the docks at the Port of Baltimore have been completely halted. Some exporters have had to declare force majeure and redirect their cargoes to nearby ports like Newport News. Although there is ample global supply for coal shipping and demand in major European importing regions remains weak, the impact of this accident on global coal trade cannot be overlooked.
Additionally, container ships have stopped docking at the Port of Baltimore, with most opting to divert to other ports in Virginia, New York, and New Jersey. Currently, aside from the 9,962 TEU "DALI" container ship, there are still three bulk carriers, one car carrier, one multipurpose vessel, and one small tanker stranded in the port, awaiting the reopening of the navigation channel.
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