Car shipper faces up to $10 million hit from Baltimore bridge collapse
The impact is a result of the reduction in logistics operations, one of its ships being unable to exit the port and other disruptions to operations. Wallenius Wilhelmsen ASA, one of the largest car shipping companies, expects a $5 million to $10 million hit to its earnings from the Baltimore bridge disaster. The company's logistics operations in Baltimore have been reduced, with one of its ships being unable to exit the port and other disruptions to operations. Some of the effects have been mitigated by rerouting cargo to other U.S. terminals and modifying operations to absorb cargo diverted from Baltimore harbor. A temporary channel has been established to reopen traffic, but the port is the largest gateway in the US for vehicles.
Published : 4 weeks ago by Alex Longley in Business Auto
Wallenius Wilhelmsen ASA, one of the largest car shipping companies, said it expects a $5 million to $10 million hit to its earnings from the Baltimore bridge disaster.
The impact is a result of the reduction in logistics operations in Baltimore, one of its ships being unable to exit the port and other disruptions to operations, the company said in a statement. Some of the effects have been mitigated by the rerouting of cargo to and from other U.S. terminals.
Ports on the East Coast have been modifying their operations to absorb cargo diverted from Baltimore harbor, where salvage specialists have been clearing debris from the destroyed Francis Scott Key Bridge. A temporary channel has also been established in order to reopen traffic, but the port is the biggest gateway in the United States for vehicles — causing disruption.
Topics: Traffic