More than a day after a vessel leaving the Port of Baltimore crashed against Francis Scott Key Bridge causing it to collapse, rescue divers continued search operations for six construction workers presumed dead. 

The crash, occurring around 1:35 am ET on Monday, is expected to cause logistical issues in the area for an indefinite amount of time, driving questions about the short and long-term impacts on trade.

Interstate 695, which ran across the 1.6-mile-long bridge over the Patapsco River, had been used by over 31,000 cars daily President Biden said on Tuesday, making it a key element of the transportation and economy of the region. 

President Biden said the government will work to rebuild the bridge as quickly as possible and expects the federal government to fund the construction. 

"We’re going to get it up and running again as soon as possible. ... Fifteen thousand jobs depend on that port, and we’re going to do everything we can to protect those jobs and help those workers," Biden said on Tuesday from the White House.

Wednesday morning, Maryland Governor Wes Moore shared on his X account that the state’s flag had been lowered to half-staff.

“Our entire state is grateful for the tireless work of our first responders and everyone who has stepped up to serve in the past 24 hours. Maryland is strong and has risen to meet this moment as the work continues today,” Moore said.

Maersk shares tumble

The Singapore-flagged vessel, Dali, had been chartered by Danish shipping company Maersk. The company’s stock took an immediate hit, sliding over 6% in Copenhagen’s stock exchange, Nasdaq Copenhagen, in the aftermath of the crash. 

In a statement, Maersk said it had chartered the ship and that it was carrying Maersk cargo, but none of its crew members were aboard.

During the last six months, Maersk shares were down more than 28%, as Red Sea attacks, disruptions, and an increase in new vessels have weighed on freight rates.

Economy and logistics

The Port of Baltimore has been closed indefinitely, with officials saying port operations could be affected for a long time. 

This means other ports on the East Coast will be forced to take extra shipments, especially of coal, sugar, and machinery like tractors and cranes, the main goods moved through Baltimore. 

In this regard, U.S. agriculture trade averted a more significant, direct impact, had the crash affected busier ports for fresh produce like the ports of New Jersey, Philadelphia or Wilmington. 

As Mike Steenhoek, executive director at the Soy Transportation Coalition said on the AgriTalk podcast, “[The Port of Baltimore] doesn't accommodate a lot in terms of agricultural exports. Sugar would be No. 1, then soybeans No. 2, grain products including corn and wheat are No. 3, and then coffee and grocery items.”

However, he warned, the supply chain could experience a ripple effect. 

“It's all a part of this big issue that when it comes to supply chains: don't put all of your eggs in one basket,” Steenhoek said. “The more you can spread your eggs across multiple baskets, the better you are, and the more resilient you are. So, we take real concern when you've got a major disruption at one of our ports.”