A new S&P Global Market Intelligence report says the reconstruction of the Francis Scott Key Bridge in Baltimore and subsequent cargo delays it caused are likely to be "extensive."

The collapse blocked the main access to the port of Baltimore and trapped six bulk carriers and two navy vessels, raising another challenge to northeast US supply chains.

On March 26, the bridge collapsed after being struck by a containership operated by AP Moeller Maersk A/S on an international route between the US East Coast and Asia.

“The bridge collapse is the latest challenge for northeast US supply chains, including access to the Red Sea and Panama Canal and the prospect of port strikes later in mid-2024," said Chris Rogers, head of supply chain research at S&P Global Market Intelligence.

"Both bridge reconstruction and cargo delays are likely to be extensive," he added.

However, Rogers noted that some freight across containerized and bulk modes could be rerouted to nearby ports in Wilmington, Delaware and Philadelphia, Pennsylvania.

The S&P Global Market Intelligence head of supply chain research noted that the port handled around 3% of all US East and Gulf Coast imports and 10% of US Northeast imports of containerized freight in the 12 months to January 31, 2024.

The Francis Scott Key Bridge in Baltimore is particularly important for the wood (39% of northeast ports' imports), construction machinery (31%) and steel/aluminium (20%) sectors.

Meanwhile, consumer goods exposures include home appliances (16%) and furniture (9%).

"The port is also one of the largest handlers of speciality wheeled transport shipments (cars and trucks) in the US, though one of the major terminals is located oceanside from the bridge, and so may face less disruption," Roger said.

The report noted that the incident would cause disruptions to 10% of Northeast imports.

It said that the Port of Baltimore handled 650,897 TEUs of inbound traffic and 272,8590 TEUs of outbound shipments in the 12 months to January 31, 2024, accounting for 2.8% and 3.1% of the US East and Gulf Coast total, respectively.

Container freight accounted for 75% of volumes handled through the port in the past 12 months, with autos and roll-on roll-off capacity representing another 18%, while bulk shipments of steel and forestry products accounted for much of the remainder.

S&P Global Market Intelligence noted that the port is also one of the largest handlers of speciality wheeled transport shipments (cars and trucks) in the US, though one of the major terminals is located oceanside from the bridge, and so may face less disruption.