SBLK - Baltimore Key Bridge Tragedy Pressures Global Trade: Shipping Already Hit By Panama Canal Red Sea Challenges | Benzinga
While search and rescue remains the top priority following the tragic collapse of the Francis Scott Key Bridge in Baltimore early Tuesday, the costs to global trade, markets and industry are already being examined.
The container ship that veered off course and struck the bridge, causing its dramatic and immediate collapse, was the Dali, operated by charter vessel company Synergy Group and chartered by Danish shipping giant AP Moller Maersk (OTC:AMKBY).
Maersk’s shares were down nearly 6% Tuesday, although it was not known whether the company will face any liability over the accident. It issued a statement that read:
“We are closely following the investigations conducted by authorities and Synergy, and we will do our utmost to keep our customers informed.”
East Coast Shipping Hub
Baltimore is an important shipping hub. It is the ninth-biggest U.S. port for international cargo and in 2023 it handled 52.3 million tons valued at nearly $81 ...