[Freight Weekly] Lawmaker Wants Aid for Port of Baltimore Emergency Response

🫶🏻Lawmaker Wants Aid for Port of Baltimore Emergency Response🫶🏻

U.S. Sen. Ben Cardin, D-Md., urged the Biden administration for full emergency aid to help rebuild the Port of Baltimore and the surrounding area. After the disaster of the Francis Scott Key Bridge collision, the area is feeling the economic impact and disruptions to regional and national supply chain flows. Read more: 

• Sen. Cardin asked the Federal Highway Administrator Shailen Bhatt for full funding to finance the recovery efforts derived from the Key Bridge collapse. Bhatt assured Sen. Cardin and other members of the Senate Environment and Public Works Committee in a June 5 hearing in D.C.

• “The bridge handled 34,000 vehicles a day. As a result of it being closed, we’ve seen an 18% increase in the tunnel traffic, which has added to the delays of going through the two tunnels that go through the harbor,” said Cardin. Bhatt said that President Joe Biden’s FHWA is “100%” focused on recovery efforts. Cardin said the Key Bridge collapse harmed commerce.

• This comes days after the U.S. Army Corps of Engineers announced that the main channel leading to the Port of Baltimore will be reopened fully on June 10, 2024. Crews are currently removing chunks of the Key Bridge superstructure that was demolished in a controlled explosion.

• Clearing of the Fort McHenry Channel halted vessel traffic for 11 weeks.

• Federal Maritime Commission officials have asked President Biden for emergency financial support for businesses impacted by the collapse.

Bottom line: While replacing the bridge will take time and money, trade volumes can resume to flow at near normal rates as the Port of Baltimore is ready for full business operations once the Fort McHenry Channel is officially reopened.

CONTEXT: Johns Hopkins starting nationwide study on bridge safety after Key Bridge collapse in Baltimore

🚰Panama Canal Wants to Build a New Reservoir to Boost Ship Transits 🚰

As the Panama Canal Authority struggles with the impacts of a dry season and climate change, the agency announced good news for shipping lines this week:

• First, the Panama Canal Authority announced that it will increase vessel draft to 45 ft ahead of schedule and before the regional rainy season.

• According to the canal authority, these adjustments were expected to take place on June 15. Transits through the locks are also on the climb.

• Reports also indicate that the Panama Canal Authority is considering building a new reservoir to increase water volume and transit.

• “One promising solution we are exploring is the construction of a new reservoir, which would provide capacity for an additional 11 transits.” - Dr. Ricaurte Vásquez Morales, Administrator of the Panama Canal.

Bottom line: Panama Canal transits are easing for the time being as the authority in charge of the crucial international waterway intends to mitigate challenges to the flow of trade in the near future.

GO DEEPER: The Full Dr. Morales Statement

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📰  WHAT ELSE IS GOING ON IN FREIGHT

🛪 Air cargo volumes to reach double digits this year: Air cargo volumes are on a path to see double-digit growth, according to Xenta. Ongoing U.S. and Chinese trade disputes will harm this, forcing air cargo carriers to hedge their bets. Here…

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