04.04.2024 Energy

Apr 25, 2024
In this version of Energy Tidbits, I want to provide some information on the Baltimore Bridge collapse. The Francis Scott Key Bridge also known as the Key Bridge, is a crucial transportation link that spans the Patapsco River in Baltimore. This bridge is vital for not only vehicle traffic but clearly maritime traffic as well. Although very rare the cargo ship that hit the Key Bridge lost power early in the morning of March 26th hence crashing into and collapsing a 1.6 mile stretch of the bridge.
Both Energy and Agriculture products will be affected by the crumbling of the Key Bridge. A minimal amount of petroleum products are imported into the Port of Baltimore with Biodiesel and Biodiesel feedstocks leading the way. Baltimore does import the largest amount of asphalt of any U.S. port. Urea ammonium nitrate (liquid fertilizer) is imported here as well to the tune of 4th most of all ports in the U.S. Baltimore is the closest coastal port to the Midwest market potentially making liquid fertilizer a product to watch as we move forward. Lastly this port imports the most tractors, combines, hay balers, cars, and trucks of any port in the country, something tells me equipment prices may not be dropping anytime soon!
Currently this port is obviously closed and is expected to remain closed through December of 2024, short term we should not see significant supply shipment problem but clearly down the road this could be a large issue for Ag supply.
Thanks for reading!
Bill Pelzel
CRC Energy Manager