The ripples from the container ship crash at Baltimore will be felt across industries and geographies.
President Joe Biden – pledging to move “heaven and earth” to reopen the port and rebuild the collapsed bridge – said, “Ship traffic in the Port of Baltimore has been suspended until further notice. And we’ll need to clear that channel before the ship traffic can resume. The Army Corps of Engineers is on the spot and is going to help lead this effort to clear the channel.”
Diversions are already taking place, creating major logistics and insurance implications, and increasing costs.
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