Baltimore bridge collapse could cost $9 million a day

The collapse of the Francis Scott Key Bridge in Baltimore after it was hit by a cargo vessel in the early hours of Tuesday has paused shipping at the city's main port, potentially leading to losses of $9 million a day, a supply chain expert told Newsweek, according to Report.

The vessel, the Dali, was heading to Colombo, Sri Lanka, when it struck a column of the bridge causing it to collapse into the Patapsco River.

More than 847,000 vehicles came through the port last year, according to Maryland state data. It ranked first in the nation in the import and export of automobiles, light trucks and construction materials. It is also ranked second in the country in the coal exports. In 2022, it was ranked sixth in coffee imports—around 120,000 tons valued at nearly $610 million.

The port is a key economic contributor to the economy of Baltimore, responsible for more than 15,000 jobs and generating $2.6 billion in business income to the state. It is host to 50 ocean carriers that make about 1,800 trips a year, state data shows.

On Tuesday, during a press conference, Maryland Gov. Wes Moore said that shipping was suspended for the time being and the focus was on the search and rescue of those who were impacted by the bridge's collapse.