BALTIMORE — One of the busiest cargo ports on the East Coast, and the busiest for car shipments in the country, is at a standstill after the collapse of the Francis Scott Key Bridge early Tuesday morning.
Vessel traffic in and out of the Port of Baltimore is suspended until further notice and the collapse will undoubtedly have massive implications on Baltimore and Maryland's economy.
“The economic impact to the State of Maryland and Washington D.C. Metropolitan area is going to be very, very grave,” said Scott Cowan, the President of Local 333, International Longshoremen’s Association.
Cowan said most of the cargo that comes through The Port of Baltimore directly serves our region. He’s concerned about the 2,400 workers he represents who now must wait and see. The port generates more than 15,000 jobs and nearly $400 million in state and local tax revenue each year, according to the Maryland Port Administration.
“Our longshoremen are hired on a daily basis, their jobs are not guaranteed, so when there's no ships here, there's no cargo – there's no work so it affects us greatly,” said Cowan.
The collapse comes after Maryland Gov. Wes Moore celebrated a record year for the port in 2023. The port saw more than 52 million tons of foreign cargo valued at more than $80 billion.
“Arguably, our number one economic development asset has been compromised and this is a region already weak economically, so this is a real issue,” said Anirban Basu with Sage Policy Group. “The negative economic impact is going to be millions of dollars – tens of millions of dollars perhaps each day.”
Basu, an Economist from Baltimore, said since the port is a major handler of vehicles and raw materials such as coal, we could see prices go up. General Motors and Ford have already rerouted shipments. GM said to expect minimal disruption, but while cargo like cars and tractors are sure to come back, competition from other ports could have an impact.
“Some of these containerized cargos, I fear, is not going to come back to Baltimore because there will be new protocols and standardized procedures, new investments in other ports to handle new cargo, and as a result, Baltimore's loss could be long term and permanent as opposed to merely short term,” said Basu.
There could be delays in goods normally transported through the airport from rail and even the airport. It’s also affected the routes of truck drivers who relied on the bridge.
“It's going to rip the whole world up,” said truck driver Melvin Gruwell. “You'll have to go around it will take time and everything else.”
Despite concerns, Cowan is hopeful operations will return sooner than later.
“If they can get that large pieces and large stuff out there, we can be open for business quickly,” said Cowan.
Major distribution sites for Amazon and Under Armour are located on the port as well.
In a statement, Amazon told WUSA9:
“Our thoughts are with all those impacted by the bridge collapse and the first responders assisting in the rescue and recovery efforts. We’re assessing the immediate and future impacts to our employees and delivery partners, as well as the surrounding community and will make any adjustments to our operations that are needed. We also stand ready to support the community in any way we can.”
Gov. Moore said 2023 was a record breaking a year for the port, bringing in 52 million tons of foreign cargo. Especially cars valued at more than $80 billion in 2023.
We reached out to the Governor’s Office and Maryland Port Authority for comment on the economic impact of the bridge collapse but have not heard back.