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Amazon, FedEx & others face disruption after Baltimore bridge collapse

Published 2024-03-26, 01:06 p/m
Updated 2024-03-26, 01:15 p/m
© Reuters.  Amazon, FedEx & others face disruption after Baltimore bridge collapse

Proactive Investors - Amazon.com Inc (NASDAQ:AMZN, ETR:AMZ), FedEx Corp (NYSE:NYSE:FDX, ETR:FDX), Under Armour and several other companies are expected to suffer disruption after a vital commuter bridge in Baltimore collapsed on Tuesday morning.

Distribution warehouses and other facilities based at an industrial park at the north end of the Francis Scott Key Bridge are facing severe disruption, with regional traffic also gridlocked.

Companies operating out of the industrial park include Amazon, BMW AG (ETR:BMW) Group, Under Armour Inc (NYSE:UAA) (NYSE:UA), Volkswagen (ETR:VOWG_p) Group (XETRA:VOW) of America, Home Depot Inc (NYSE:NYSE:HD, ETR:HDI)and FedEx, according to reports.

An extended shutdown of the area is expected to cause intense congestion for both businesses and travellers over the coming months.

Disruption comes after the commuter bridge collapsed, having been rammed by a container ship, with vehicles and people being thrown into the water.

Six people are still unaccounted for with divers and fire rescue teams searching for survivors while fears grow regarding a large diesel spill and the temperature of the water being only slightly above freezing.

The collapse has also disrupted the Port of Baltimore, one the most important ports in the east of the US due to the high volume and value of cargo being shipped.

Dali, the vessel which crashed into the bridge, is a 32,000-tonne ship which was believed to have been carrying around 4,900 containers at the time of the incident.

It is on charter to shipping giant Maersk, whose shares fell 2.6% following the news.

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