Editor's Note: This story was updated April 12, 2024, with comments from Komatsu.
The closing of the Port of Baltimore due to the collapse of the I-695/Francis Scott Key Bridge should not have a large impact on construction equipment supplies and prices, according to an international market research firm.
The port was closed March 26 after the cargo ship Dali crashed into a bridge pillar causing the bridge deck to collapse. Crews are working to clean up the debris and remove the ship to reopen the channel. A partial reopening is scheduled for the end of this month, with a complete reopening scheduled for the end of May.
Alastair Hayfield, senior research director Interact Analysis, does not foresee a major impact on construction equipment supply and prices. Though Baltimore is among the top U.S. ports for construction equipment imports and exports, ports in Georgia are also major players in the international construction equipment trade.
“Given the timeline that the port is giving in terms of reopening,” Hayfield says, “I really don't think there's much of a dramatic impact.”
There could be instances of certain models or specific dealers being affected should there be any delays or if the machinery ends up somewhere other than intended.
“It seems like this is really only a temporary issue at the moment,” he says. “And you’re certainly not seeing any of the major OEMs in the U.S. putting out press releases that say we're worried about production or capacity or something like that.”
