In 2021, the blockage of the Suez Canal by the container ship “Ever Given” led to massive disruption of international trade. Could the closure of the port of Baltimore, after the collapse of a bridge on Tuesday, also have effects on the international logistics chain?
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Baltimore, medium-sized port
The Port of Baltimore handled 1.1 million 20-foot equivalent containers (TEUs, the industry’s metric) last year, according to the Pacific Shipping Association.
For comparison, in France, the port of Le Havre recorded 2.6 million TEUs in the same year. The Port of New York-New Jersey, the third largest in the United States, 7.8 million TEUs.
“It is a second-tier American port” because it is located at the bottom of the Chesapeake Bay, Paul Tourret, director of ISEMAR, the maritime industries observatory, told AFP.
“It rather receives transatlantic traffic, small ships coming from Northern Europe or the Mediterranean, but also a certain number of shipping lines from the Indian Ocean.”
According to Allianz Trade, container imports through Baltimore represent 2.1% of the total U.S. ports.
The port of Baltimore nevertheless remains important for certain sectors, in particular the automobile sector: it is the one through which the most new cars pass, more than 800,000 last year.
It is also important for the transit of aluminum, copper and even coal. Last year, it was even the country’s first in terms of exports of thermal coal, to India, but also to China, Canada and the Netherlands, recalls S&P.
Mixed consequences
The consequences of the accident should remain moderate because the ships can deport to other regional ports, according to experts.
Blocking the port – for an indefinite period – “will have little impact on trade between the United States and Europe”, projects Patrick Lepperhoff, of the Inverto firm.
“In the last quarter of 2023, around 260,000 standard containers were loaded and unloaded at the port,” he wrote in a note. “This volume can be diverted to neighboring ports, for example New York and Norfolk (Virginia, Editor’s note). For these ports, that means about 10 percent higher volumes, they should have that capacity.”
When contacted, the car manufacturers say they are attentive. German Volkswagen told AFP that its operations were not affected, since its Baltimore factory remains accessible to ships. His compatriot BMW says he is in a similar situation. The American Ford has already “secured alternative routes”.
For its part, Mercedes-Benz operates a terminal behind the collapsed bridge, which is no longer accessible from the sea. The Stuttgart manufacturer indicated in the German press that it was studying routes to find alternatives.
But points of attention
There remain areas of attention, particularly for coal, warns an S&P note. The collapse of the bridge thus blocked access to two export terminals for this ore, those of Curtis Bay and Consol Marine. The accident could disrupt exports for 10 to 15 days, according to S&P.
Moreover, Baltimore’s port stocks of cobalt were already under pressure in the face of high demand, even before the bridge collapse. Especially since the Suez Canal crisis – where maritime traffic has plunged, due to Houthi rebel strikes on ships – has already caused delays.
For oil, according to S&P, fuel supplies could tighten on the Atlantic coast as ships seek to refuel outside of Baltimore.
In any case, the situation will add pressure on surrounding ports, even if Allianz Trade sees a “limited” risk of congestion in a context of “soft” global demand.
