The Port
of Baltimore has officially reopened and resumed operations at full capacity,
marking a major milestone in the massive cleanup effort after the M/V Dali
struck the Francis Scott Key Bridge on March 26, causing it to collapse.
The U.S. Coast Guard Captain of the
Port (COTP) has now officially reopened the Fort McHenry Channel to commercial
vessel traffic for 24-hour availability without restrictions.
Supply chain visibility
platform Project44 has provided some insights into current port operations and the
impacts resulting from the extended closure. Their data revealed that vessel
berthing times significantly decreased after the Federal Channel was partially
reopened on May 20 following the refloating and removal of the Dali. While export dwell times at the Port of
Baltimore remain high due to clearing the backlog of containers, import
container dwell and vessel berthing times are now stable, indicating healthy
labor force and operations at the port, according to Project44.
Median
Weekly Import and Export Dwell for the Port of Baltimore. Chart courtesy
Project44
During the
closure, many containers that were initially destined for the Port of Baltimore
were redirected to other ports. Project44a’s analysis shows that the ports that
received the most volume were New York (46%), Norfolk (20%), and
Newark-Elizabeth (9%). The data shows that dwell times at these ports have
remained stable, however, the rerouted containers experienced higher dwell rates
due to bottlenecks in finding drayage coverage for out of network transit
lanes.
The extended dwell times also
resulted in demurrage charges, which are fees levied by ports when containers
remain at the port for an extended period. The estimated demurrage costs due
to the crash could be as high as $85 million, according to Project44. However,
as containers are no longer rerouting around Baltimore, further demurrage costs
are not expected.