Baltimore's port isn't one of the nation's largest, and some goods can be rerouted. But some auto companies are having to scramble, and the bridge disaster could spell trouble for local jobs.Cars are visible in a general view from the Baltimore Port after the cargo ship Dali ran into and collapsed the Francis Scott Key Bridge in Baltimore, Md., on Tuesday. The accident has temporarily closed the Port of Baltimore, which handles more vehicles per year than any other U.S. port.
Baltimore handles more vehicle imports and exports than any other U.S. port. Last year, nearly 850,000 cars and light trucks passed through. Dai, of Johns Hopkins, anticipates the shutdown will create delays for auto imports and exports as companies work to find alternatives to the widely used Baltimore port.Dai says the video of the bridge collapse is likely more dramatic than the impact of it on the overall economy.
"Both bridge reconstruction and cargo delays are likely to be extensive," he wrote in a research note."However, some freight across containerized and bulk modes could reroute to nearby ports in Wilmington, Delaware and Philadelphia, Pennsylvania." The port that's now partially blocked is a major employer, supporting more than 15,000 jobs directly and 140,000 jobs indirectly,Those jobs provide some $3.3 billion in personal income, $2.6 billion in business revenue and $400 million in tax revenue,
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: nbcsandiego - 🏆 524. / 51 Read more »
Source: ksatnews - 🏆 442. / 53 Read more »