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Seafreight Insights

Read our Seafreight Insights to find out about the latest developments in the global sea cargo industry. Get an update on trade and rate developments as well as flexible solutions offered by cargo-partner to deal with the current challenges.

The global container shipping industry is still in turmoil and global trade is at risk due to several crises. The ongoing Houthi threat in the Red Sea/Suez Canal and the issues with low water levels in the Panama Canal were already causing major disruptions to global supply chains.
The collapse of the Francis Scott Key Bridge in Baltimore will cause even more problems as this is one of the busiest ports on the US East Coast. Traffic to and from Baltimore’s major terminals is currently suspended and leading container shipping lines have already responded by diverting the first ships to other ports in the area.

What are the consequences of the bridge collapse?

The collapse of the Francis Scott Key Bridge after being struck by a container ship has disrupted container shipping services at the Port of Baltimore. This will severely impact the port's services and will have ripple effects, as debris has fallen into the Patapsco River. The bridge continues to block a large portion of the channel leading into the Port of Baltimore. It is not known how long the challenging clean-up work will take.
The port is the deepest in Maryland’s Chesapeake Bay, with five public and 12 private terminals handling over 80 billion dollars’ worth of cargo in 2023. It serves more than 50 ocean carriers and makes nearly 1,800 annual port calls.

Last updated on April 3

Current market assessment from April 4, 2024:

Legend: traffic lights showing current status, arrow indicates possible development of transport rates.

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