Baltimore Bridge Collapse - Central News Hub

Biden Vows to ‘Move Heaven and Earth’ to Rebuild Baltimore Bridge

President Biden he surveyed the wreckage from last week’s bridge collapse in Baltimore in an effort to reaffirm his commitment to the people there.

President Joe Biden visited the Francis Scott Key Bridge in Baltimore on Friday (local time) and vowed to “move heaven and Earth” to rebuild the structure, The Hill reported.

“Folks, we’re going to move heaven and Earth to rebuild this bridge as rapidly as humanly possible,” he said.

“We’re going to do so with union labor and American steel,” the US President affirmed, describing the damage as “devastating.”

Biden delivered the remarks as he surveyed the wreckage from last week’s bridge collapse in Baltimore, reaffirming his commitment to the people there.

“I’m here to say, your nation has your back. And I mean it. Your nation has your back,” Biden said, speaking with the wreckage of the collapsed bridge in the backdrop, according to The Hill.

“The damage is devastating and our hearts are still breaking,” Biden said in a reference to six people who died when the bridge collapsed late last month.

The cargo ship Dali struck the Francis Scott Key Bridge on Interstate 695 last Tuesday, causing it to collapse into the ocean. The cargo ship was bound for Sri Lanka.

Reopening the Baltimore Port, which is usually one of the busiest in the US and essential to trade along the East Coast, was stated by the president as the top priority of his administration. According to him, authorities anticipate that the entire shipping channel will reopen by the end of May.

Biden, during his visit to the bridge collapse site, took an aerial tour of the wreckage. He also talked about his family ties to Baltimore, and the amount of time he spent driving over the bridge.

He also met the families of the victims who lost their lives.

The White House said Thursday that top administration officials have called major employers in the Baltimore area, including retail chains and distributors, urging them to retain workers in the aftermath of the bridge collapse.

Biden also called on Congress to do its part to address the fallout of the bridge collapse as Baltimore residents face questions about accessing schools, hospitals and offices.

The collapse of Baltimore’s Francis Scott Key Bridge, following a collision with a container ship early on March 26, has brought trade through the Maryland port to a grinding halt, causing significant disruptions to the flow of commodities, particularly coal and cobalt.

Furthermore, the closure is expected to impede US coal exports to key destinations such as India, China, Canada, and the Netherlands, with Baltimore handling a significant portion of these shipments.

Moreover, Baltimore’s ports were the third-largest destination for US imports of unwrought primary aluminium in 2023, further exacerbating the impact on the metals trade.

Furthermore, the closure is likely to necessitate the shifting of container traffic to other area ports, including those in New York, New Jersey, and Norfolk, Virginia, adding complexities to shipping operations. (ANI)

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Baltimore Bridge Collapse Hits Indian Markets

India, a major importer of US thermal coal, is bracing for challenges in its supply chain following the bridge collapse…reports Asian Lite News

The collapse of the Francis Scott Key bridge in Baltimore, USA, has reverberated across the Indian coal and petcoke markets, sparking concerns about potential supply chain disruptions and price impacts.

According to S&P Global Commodity Insights, the incident, triggered by a vessel collision with a supporting pylon, has led to the suspension of navigation through Baltimore Harbor, a critical hub for coal exports.

India, a major importer of US thermal coal, is bracing for challenges in its supply chain following the bridge collapse.

According to a US-based trader, the incident is expected to restrict shipments from Arch Coal and create logistical hurdles for Indian importers.

A broker told S&P, “The incident will restrict NAPP shipments from Arch Coal and create numerous problems in the supply chain for India. Possible effect on thermal coal to Europe. Bigger impact is India. Watch the petcoke prices jump!”

The trader warned of potential price jumps in petcoke, a byproduct of the coal refining process, which could further strain India’s energy markets.

However, opinions within the Indian market are mixed regarding the extent of the pricing impacts.

An India-based trader expressed skepticism about significant disruptions, pointing out that major suppliers like Consol and Arch had not declared force majeure.

Nevertheless, concerns persist about the potential delays in coal shipments and the consequent strain on India’s energy sector.

India’s reliance on imported coal is significant, and any disruptions in the global supply chain can have far-reaching consequences.

The Indian trader said, “The authorities will take 6-7 days to assess how much debris is there from the incident and how much draft is available because if the draft is low then it could be a problem. The authorities may take 10-15 days to clear out the debris, so it means no ship movement during this period.”

The port of Baltimore, a key loading location for US thermal coal exports, plays a crucial role in meeting India’s energy demands.

With the suspension of navigation through Baltimore Harbor, alternative routes and logistical arrangements will need to be explored to ensure a steady supply of coal to India.

While some market participants anticipate short-term price fluctuations in response to the incident, others believe that the overall impact on coal prices may be limited if the waterway is cleared within a reasonable timeframe.

Nevertheless, the situation remains fluid, and Indian stakeholders are closely monitoring developments to assess the potential implications for energy markets.

As authorities work to assess and clear the debris from the collapsed bridge, Indian coal and petcoke importers are bracing for potential disruptions in their supply chains.

With India’s energy security at stake, attention is focused on finding alternative solutions to mitigate the impact of the Baltimore bridge collapse on the country’s energy sector. (ANI)

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