US E. Coast ports prepare to receive Baltimore harbour diverts

Ports on the US East Coast are adjusting operations to manage cargo diverted from Baltimore harbour, where specialists are clearing debris from the destroyed Francis Scott Key Bridge, according to Bloomberg.

The Port of Virginia will open an hour earlier to accommodate more truckers, while the Port of New York and New Jersey is streamlining access for transport companies. A major railroad is also expanding its services.

The fallout from the bridge collapse is expected to be contained as neighbouring ports tweak schedules to handle additional cargo. However, delays and increased costs may occur outside ports as shipments require longer routes.

CSX Corp. offers a rail service for diverted Baltimore freight from New York. Norfolk, New York, and Charleston are anticipated to absorb more imports in the short term.

Efforts are underway to reopen the Baltimore channel, with plans for a temporary alternate route marked with navigational aids. The closure will impact supply chains across the eastern US.

Gateways like New York’s and Virginia’s have extra capacity to handle the diverted cargo, reducing the risk of extended bottlenecks.

Diversions are adding five days to delivery times on ground transport, and the local economic impact is expected to persist for months.

This event highlights the need for supply chain resilience and self-sufficiency, amidst other global disruptions such as geopolitical tensions and climate change.

Despite these challenges, world trade growth is forecasted to improve, though risks remain.