MarineVesselsTracker.com
Introduction:
Last week’s U.S. Baltimore bridge collapse has had significant implications on the shipping industry, particularly for Norwegian car shipping firm Wallenius Wilhelmsen. The company estimates a $5 million to $10 million hit to core earnings from the incident and anticipates the closure of the key ship channel for weeks. The vessel Carmen, one of the largest car carriers in the fleet, remains stuck in Baltimore’s port, awaiting clearance once the channel is reopened. As recovery efforts continue, the impact on the global shipping industry is becoming increasingly apparent.
Wallenius Wilhelmsen, a prominent vehicle carrier, has estimated the provisional financial impact on EBITDA to be between $5-10 million due to the closure of the key ship channel in Baltimore. The company expects the disruption to last for weeks, leading to potential delays in cargo operations and port calls. While some terminal operations have resumed outside the affected area, the overall impact on Wallenius Wilhelmsen’s operations is significant.
Recovery teams have opened a second channel that allows smaller vessels to navigate the Port of Baltimore, but commercial shipping remains largely blocked by the collapsed bridge and the stranded container ship Dali. The closure of the key ship channel is expected to last for weeks, potentially causing delays in cargo operations and port calls. Wallenius Wilhelmsen is closely monitoring the situation and preparing for the eventual reopening of the terminal.
The Port of Baltimore plays a crucial role in the U.S. shipping industry, particularly in handling autos, light trucks, machinery, sugar, and gypsum. The closure of the key ship channel has disrupted normal operations at the port, leading to re-routing of cargo to other U.S. ports such as Newport News, Newark, and Savannah. The financial implications of the closure are significant, with insurers and reinsurers expected to face billions of dollars in claims.
In a filing with a Maryland district court, the owner and manager of the stranded container ship Dali petitioned to limit their liability to a maximum of $43.6 million. The petition claims that the casualty was not due to any fault, neglect, or want of care on their part. Insurance industry sources suggest that this filing is an initial effort to limit exposure and potential legal consequences stemming from the incident.
The U.S. Baltimore bridge collapse has had a profound impact on the global shipping industry, with implications for major players like Wallenius Wilhelmsen and insurers/reinsurers. The closure of the key ship channel in Baltimore is likely to disrupt operations for several weeks, leading to financial losses and delays in cargo movements. As recovery efforts continue and the channel reopens, the industry will closely monitor the situation and assess the long-term effects of the incident.