What was the estimated daily economic impact of the Port of Baltimore closure after the Key Bridge collapse?

The collapse of the Francis Scott Key Bridge in Baltimore on March 26, 2024, after being struck by the container ship Dali, led to the immediate closure of the Port of Baltimore, a critical hub for shipping on the East Coast. This sudden halt in operations carried an estimated daily economic impact of $15 million. This substantial figure reflects the loss of revenue and economic activity due to the disruption of trade and the rerouting of cargo that would normally pass through one of the busiest ports in the United States.

The Port of Baltimore is a significant economic asset, strategically located near inland markets and serving as a vital access point to extensive highway and railway networks. It is particularly renowned for handling roll-on/roll-off (Ro/Ro) cargo, making it the leading U.S. port for imports and exports of automobiles, trucks, and heavy machinery, as well as a major handler of agricultural equipment, coal, and sugar. The port directly supports over 15,000 jobs, with an additional 140,000 jobs dependent on its activity, underscoring the widespread impact of its closure.

With the main shipping channel blocked for approximately 11 weeks, cargo ships were forced to divert to other East Coast ports, such as Norfolk and New York/New Jersey, leading to logistical challenges, delays, and increased costs for businesses and consumers. The daily economic loss of $15 million encompassed not only the direct revenue from port operations but also the ripple effects on various industries, supply chains, and the livelihoods of thousands of workers across Maryland and beyond. The port eventually reopened to full maritime operations on June 10, 2024.