Here are the quick highlights and analysis you need from the week in maritime global trade, powered by Maritime AI™ insights.
The Aftermath of the Tragedy in Baltimore
Tragedy struck when a massive container ship, a Singaporean-flagged container vessel named Dali, lost power and demolished a Baltimore bridge. Six people are presumed dead in the accident.
The accident has fueled major supply chain concerns, especially in the wake of the Panama Canal drought and ongoing Red Sea disruptions: the bridge spanned the entrance to the Port of Baltimore, the busiest U.S. port for car exports and the ninth-busiest for foreign cargo, according to the BBC. It is also the second biggest port for U.S. coal exports.
Speaking to the AP, Windward Co-Founder and CEO, Ami Daniel, noted other potential supply chain problems. In the Baltimore area, “if you’re in the construction business and you haven’t piled up enough steel because of (high) interest rates, then there’s a good chance you’re going to run out of steel…if you’re in the shipbuilding or construction business, it can slow down your project.”
There has been a 50% increase in destination updates for vessels expected to arrive in Baltimore. Some of the new destinations include the ports of Norfolk and Savannah, and…