What is the impact on the economy of closing the Baltimore Bridge and how long will it take to rebuild?

The collapse of the bridge Francisco Scott Key suspended for an indefinite period the passage of ships entering and leaving the port of Baltimore. Officials and analysts believe this will cause a logistical nightmare on the East Coast of U.S for months, or perhaps years, as it is an important distribution center for goods.

The biggest bridge in Baltimore collapsed on Tuesday morning after the Dali container ship crashed into one of its pillars.

READ TOO: How a ship collided with the Baltimore Bridge and what is known about the possible causes

At least six people died and two were rescued alive from the Patapsco River. All victims worked filling holes in the bridge for the company Brawner Builders.

Remnants of the Francis Scott Key Bridge remain atop the freighter Dali after the ship lost power and collided with the bridge. (EFE/EPA/JIM LO SCALZO). (JIM LO SCALZO/)

On Wednesday morning, Rescue divers have resumed their search for the bodies of the six missing people. All of them were of Latin origin. The governments of El Salvador, Honduras and Mexico They have already confirmed the names of three of their deceased compatriots. There were also Guatemalans among the victims.

There were no further casualties because an emergency call issued by the ship caused authorities to halt traffic on the bridge.

According to the AP agency, authorities had 90 seconds to stop vehicle traffic in both directions on the bridge. There was not enough time to alert those working in the structure.

Bridge collapse in Baltimore. (AFP).

After the accident, the Department of Transport of the Maryland, Paulo WiedefeldHe reported that Maritime traffic in and out of the port has been suspended until further noticealthough trucks can still access the infrastructure.

About 11 million vehicles pass over the Francis Scott Key Bridge every year.an average of 31 thousand per day.

The activity in the port of Baltimore It generates profits of up to $3.3 billion a year and contributes nearly $400 million in annual tax revenue, according to Telemundo.

To the economic consequences of the accident were immediately noticed. The CNN network reported that by Saturday the arrival at the Baltimore in seven ships container shipsomething that will never happen again.

The company Maersk reported in a statement that they are omitting Baltimore in all its services for the foreseeable future, until passage through this area is considered safe.

He added that he will unload the cargo destined for the Baltimore in other nearby ports, although warned customers that this could mean delays.

According to CNN, Baltimorecloser to the U.S. Midwest than any other East Coast port, It is an important vehicle hub, containers and goods. It ranks first among American ports for automobiles and light trucks. Last year there were a record 850,000 vehicles.

“Last year we received, processed and shipped approximately 100 thousand vehicles through Baltimore to U.S. distributors located in the Northeast and Mid-Atlantic United States,” the company said Volkswagen in a statement cited by CNN. “We do not anticipate any impact on ship operations, but there may be truck delays as traffic is diverted in the area,” he added.

The remains of the Francis Scott Key Bridge remain atop the freighter Dali. (EFE/EPA/JIM LO SCALZO). (JIM LO SCALZO/)

The AFP agency specified that Last year, more than 52 million tons of goods worth about $80 billion entered the United States through the terminal. Baltimore. The source of this information was the governor of the state of Maryland, Wes Moore.

The port also handles the largest volume of imported sugar and gypsum transport.

Baltimore is the ninth largest port in the United States. in terms of cargo and cargo value of foreign goods mobilized.

Activity at the port generates more than 15 thousand direct jobs and almost 140 thousand indirect jobs.

More than 50 maritime transport companies use the port of Baltimore every year, for a total of almost 1,800 trips per year, according to AFP.

The port is also used as a cruise terminal.

Last year, more than 440 thousand people left the port of Baltimorethe highest since 2012, according to the governor’s office.

“Baltimore Bridge Collapse Threatens to Disrupt Logistics Activity Across the East Coast,” said Oren Klachkin, financial markets economist at Nationwide, as cited by CNN.

The Francis Scott Key Bridge partially collapsed after a cargo ship collided with it in Baltimore. (EFE/EPA/SHAWN THEW). (SHAWN THEW/)

The news network stated that part of the problem may be due to traffic jams on the Interstate 95a major traffic artery along the East Coast that was damaged due to the collapse of the bridge.

CNN said that although many of the 30,000 to 35,000 cars and trucks that use the Interstate 95 They may divert daily to the two nearby tunnels, which will cause traffic delays. What is more, Hazardous materials that are not allowed in the tunnels will be diverted via a longer route.

Shipping cargo to Philadelphia, Norfolk or the Port of New York/New Jersey could increase trucking and rail prices if volumes are significant, and could cause some congestion at those alternative ports, he told CNN. Judah Levinehead of research at logistics company Freightos.

“If congestion occurs and ships are left waiting, there could be delays that will affect importers using these ports.. “Congestion could also put some upward pressure on Asian, US East Coast and transatlantic shipping rates,” he added.

Despite the potential increase in shipping costs, Mark Zandi, chief economist at Moody’s Analytics, told CNN that The disruptions are not likely to cause problems for the US economy as a whole.since it is viable for the products to find other ports.

The collapsed bridge in Baltimore. (AFP).

How long will the port remain closed? On Monday, the governor Wes Moore He didn’t dare give a date.

It is also unknown how long it will take to rebuild the bridge.

The president Joe Biden He promised to pay for the bridge’s reconstruction with federal money.

But there are several factors that must be taken into account when calculating how long the works will take: firstly, it will depend on how quickly the investigation into the accident progresses. Second, the US Congress must approve the money promised by Biden.

At the same time, the damage must be assessed so that the authorities can decide Whether the bridge can be repaired or whether the entire structure will have to be rebuilt.

Taking into account the above, Engineer David MacKenzie told NBC News that rebuilding the bridge could take about two years.

A cargo ship passes under the Francis Scott Key Bridge on March 9, 2018 in Baltimore, Maryland. (Photo by MARK WILSON / GETTY IMAGES NORTH AMERICA / AFP). (MARCO WILSON/)

He Francis Scott Key Bridge is the biggest of Baltimore. It is 2,632 meters long and has four lanes.

Construction of the bridge began in 1972 and it opened on March 23, 1977. It was financed thanks to a 220 million dollar bond issue at the time..

The central structure had three arches, the longest of which measured 366 meters. The road was 56 meters above the water level.

Cross the lower Patapsco Riverbetween Hawkins Point and Sollers Point, and the I-695 (Baltimore Beltway) passes through it.

According to Univision, The Francis Scott Key Bridge is named after a prominent local lawyer who participated in the War of 1812 between the United States and Great Britain.

In September 1814, Key was on a ship to negotiate the release of an American prisoner and witnessed a 25-hour British bombardment of Fort McHenry, the bastion defending the port, according to Univisión.

From a vantage point on the Patapsco River, Key, then 35, could see that the American flag remained upright through the hours of darkness and was still atop the fort when dawn came.

This scene inspired him and he turned his experience into a poem. The poem was known as “Defense of Fort M’Henry.”but soon afterwards it was set to music from a British song and became known as “The Star-Spangled Banner.”

Throughout the 19th century it became increasingly popular as a patriotic song, until, in March 1931,then-president Herbert Hoover officially made it the National Anthem of the United States.

Source: Elcomercio