The unfortunate collapse of the Baltimore bridge due to the collision of a ship in the early hours of the morning resulted in the paralysis of different supply chains around the world, causing in turn an abrupt fall in the value of the shares of leading companies in international trade that make use of a vital means of transport such as cargo ships.
In addition to the collateral damage related to the loss of human life and the expenditure on rescue work, which has recently been concluded due to the lack of optimistic results, the logistics industry has been harmed. Taking as an example Maersk, one of the largest shipping companies in the world and which oversaw the charter of the ship that crashed with the Francis Scott Key bridge, which has had a drop in its shares of 8% after the sad news was announced.
Collateral Damage: The Collapse of the Bridge in Baltimore
While Baltimore‘s legislation has already put in place temporary measures to keep the flow of goods moving through its waters, the economic damage is still impacting major shipping companies. For example, Maersk continued with falls of 2.64% in its stock values at the end of the day of that fateful day. This translates to losses of about $542.83 million in less than 24 hours.
According to the official report, the boat collided during 1:30 AM, resulting in the rupture of the structure and the sliding of several of the vehicles that were transiting at that time directly into its waters, including some Mexican, Guatemalan and Salvadoran citizens according to the report of the Mexican consulate in Washington DC.
It should be noted that the giant Maersk has received several resounding blows in recent months, as situations such as those currently taking place in the Red Sea have caused this company to have had declines of up to 25% in its shares, not to mention the container crisis that began during the pandemic. Other companies, such as mining company Consol Energy, which uses the bridge services in Baltimore, have also announced a 10% decline in their shares, leaving their total value at about $2.383 billion.
The importance of the bridge in numbers
The Francis Scott Key Bridge located in Baltimore is of enormous importance for trade in the area, with simple facts such as the fact that in 2023 alone it managed to transport some 52 million tons of goods worth 80,000 million dollars, or also that it is the bridge with the largest commercial transport volume of both light and heavy vehicles.
Nunca está de más la recomendación de adquirir buenos seguros de carga que puedan hacer frente a penosos accidentes como el ocurrido en Baltimore y de los que nadie está exento.
Sources:
Colapso de puente en Baltimore hunde títulos de navieras en Bolsa. El Economista
Se desploma puente en Baltimore por choque de un carguero; autoridades descartan terrorismo. Forbes
