The Rising Influence of Rising Affluence

[Biowatch]

Baltimore’s bridge collapse is global shipping’s smallest problem

https://www.msn.com/en-us/news/other/baltimore-s-bridge-collapse-is-global-shipping-s-smallest-problem/ar-BB1kCE42

In a small bright spot, the macroeconomic impact will likely be limited. (While Baltimore is the US’s 17th largest port and there will be some costs and delays, particularly around automobiles and coal, other ports will quickly handle rerouted container ships.)

There is a reason, however, that economic concerns immediately spiked: The global shipping industry is having a bit of a rough time right now.

International shipping traffic is being choked at two separate, vital points — the Panama Canal in the Western hemisphere [where a lack of water restricts the number of ships that can pass through per day] and the Suez Canal in the Eastern [because of rocket attacks, etc.] — which combined account for more than half of the container shipping that links Asia and North America.

And as awful as this Baltimore incident was, it was, by all accounts, a rogue accident. The root causes of these other disruptions, though? They’re not quite as easily fixed.

Oh, plus pirates are back.

https://www.reuters.com/world/africa/somali-pirates-return-adds-crisis-global-shipping-companies-2024-03-21/