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Market Matters Blog 03/26 19:33
Tragedy Strikes Baltimore as Ship Crashes Into Francis Scott Key Bridge
A container ship struck the Francis Scott Key Bridge early Tuesday morning,
causing a catastrophic failure as the bridge collapsed. Shipping and
agricultural interests are still determining the impact the accident will have
on shipping in and out of the Port of Baltimore.
Mary Kennedy
DTN Basis Analyst
A container ship struck the Francis Scott Key Bridge in Baltimore at about
1:30 a.m. EDT Tuesday morning, causing it to collapse and sent cars and a
construction crew into the Patapsco River. Two people were rescued from the
disaster -- one uninjured and the second in critical condition.
While U.S. Coast Guard and other emergency officials continue searching to
rescue six unaccounted people and damage assessment efforts, shipping and
agricultural interests began to weigh in on the accident's effect on shipping
in and out of the Port of Baltimore.
The U.S. Coast Guard told media the Dali, a 984-foot-by-158-foot container
ship, headed from Baltimore to Colombo, Sri Lanka, collided with the bridge in
the early hours of Tuesday after appearing to lose power and control.
LIVES SAVED BY MAYDAY CALL
The cargo ship's crew issued a mayday call moments before the crash took
down the Francis Scott Key Bridge, enabling authorities to start limiting
vehicle traffic on the bridge, Maryland's governor said -- this helped to save
lives.
To hear the Maryland Transportation Authority Police Dispatch and Response
to the emergency call just before the collision and collapse, go to
https://youtu.be/RkjZImSG7j4?feature=shared. Unfortunately, construction
workers on the bridge were not able to evacuate in time.
"The crash happened in the middle of the night, long before the busy morning
commute on the bridge that stretches 1.6 miles (2.6 km) and was used by 12
million vehicles last year," AP reported.
While vehicle traffic is being affected by the bridge collapse, so is the
Port of Baltimore closed now to ships until further notice.
AP added that "The collapse is almost sure to create a logistical nightmare
for months, if not years, along the East Coast, shutting down ship traffic at
the Port of Baltimore, a major shipping hub. The accident will also snarl cargo
and commuter traffic."
IMPACT ON AGRICULTURE PRODUCTS
"Given the dramatic events overnight at the Francis Scott Key Bridge at
Baltimore, I wanted to pass along some statistics regarding the Port of
Baltimore as it applies to agriculture," said Mike Steenhoek,
executive director of Soy Transportation Coalition, in an email to DTN.
"In 2020 (the most recent year available from USDA), the Port of Baltimore
exported 142,152 metric tons (mt) of soybeans via container. There are no
reported soybean exports via bulk vessel. The port imported 172,228 mt of
soybeans via container and 34,185 mt of soybeans via bulk vessels. In contrast,
the Mississippi Gulf region -- the leading export region for soybeans --
accounted for 35.4 million metric tons of soybean exports by bulk. There are no
exports of soybeans via container from the Mississippi Gulf region," explained
Steenhoek.
The U.S. Department of Agriculture has a helpful resource that monitors
agricultural imports and exports by port region:
https://agtransport.usda.gov/stories/s/U-S-Agricultural-Port-Profiles/7vku-v3nn/
The top five agricultural products handled (import and export combined) at
the Port of Baltimore are:
1. Sugar
2. Soybeans
3. Grain products (including corn and wheat)
4. Coffee
5. Grocery Items
Also, the Port of Baltimore is the leading port for the import and export of
automobiles and light trucks.
"While the Port of Baltimore is not a significant port region for soybeans
and grain, it obviously is a significant resource for the broader economy. It
also underscores the reality that while our oceans are vast and expansive, the
ports that serve as the origins and destinations for global commerce can be
vulnerable -- whether due to weather, accident, or attack. Investing in,
maintaining, and securing these essential links in our national and global
economy must remain a national priority," added Steenhoek.
"Losing this bridge will devastate the entire area, as well as the entire
East Coast," Maryland State Sen. Johnny Ray Salling told AP.
RESPONSE TO THE DISASTER
President Joe Biden spoke on the bridge collapse Tuesday afternoon, saying
the federal government will send all the resources needed by the city and
state. "It's my intention that federal government will pay for the entire cost
of reconstructing that bridge," he said, adding that he expects Congress to
support the effort.
"The search-and-rescue operation is our top priority. Ship traffic in the
Port of Baltimore has been suspended until further notice. And we'll need to
clear that channel before the ship traffic can resume. The Army Corps of
Engineers is on the spot and is going to help lead this effort to clear the
channel," Biden said.
(https://www.whitehouse.gov/briefing-room/speeches-remarks/2024/03/26/remarks-by
-president-biden-on-the-collapse-of-the-francis-scott-key-bridge/)
Maryland Gov. Wes Moore in a news release on his website this morning said,
"My office is in close communication with U.S. Transportation Secretary Pete
Buttigieg, Baltimore Mayor Brandon Scott, Baltimore County Executive Johnny
Olszewski, and the Baltimore Fire Department as emergency personnel are on the
scene following the collapse of the Francis Scott Key Bridge.
"I have declared a State of Emergency here in Maryland and we are working
with an interagency team to quickly deploy federal resources from the Biden
Administration. We are thankful for the brave men and women who are carrying
out efforts to rescue those involved and pray for everyone's safety."
Moore added, "We will remain in close contact with federal, state, and local
entities that are carrying out rescue efforts as we continue to assess and
respond to this tragedy."
Buttigieg visited Baltimore Tuesday and on X, formerly known as Twitter,
said he'd spoken with the governor and mayor, "to offer USDOT's support
following the vessel strike and collapse of the Francis Scott Key bridge.
Rescue efforts remain underway and drivers in the Baltimore area should follow
local responder guidance on detours and response."
To see the importance of the port to farm equipment, see related DTN story
at
https://www.dtnpf.com/agriculture/web/ag/news/equipment/article/2024/03/27/balti
more-bridge-collapse-affect.
Mary Kennedy can be reached at Mary.Kennedy@dtn.com
Follow her on X, formerly known as Twitter, @MaryCKenn
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