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Factbox-Firms react to Baltimore bridge collapse By Reuters


(Reuters) – A serious bridge collapsed on Tuesday within the U.S. port of Baltimore after being struck by a container ship, plunging automobiles into the river beneath.

Here’s what carmakers and different corporations that use the port, have mentioned concerning the impression on their operations:  

ASR GROUP

The most important sugar firm within the U.S. mentioned it has six to eight weeks of uncooked sugar shares at its Baltimore refinery, which is provided by vessels coming to the port. It mentioned it doesn’t count on short-term impacts.

AXA

The French insurer mentioned in an announcement it “doesn’t count on losses” from the Baltimore bridge collapse to be “materials at a gaggle stage”.

BERKSHIRE HATHAWAY ENERGY

The operator of Cove Level liquefied terminal mentioned its operations weren’t impacted.

BMW 

The German automaker mentioned it doesn’t count on any speedy impression apart from short-term visitors delays. 

The port’s automotive terminal is situated on the harbor entrance, in entrance of the bridge, and may nonetheless be accessed.

BRITANNIA

The Britannia Steam Ship Insurance coverage Affiliation, which insures the Dali container ship, mentioned it’s working with the vessel’s proprietor and U.S. authorities on the investigation into the collapse of the bridge.

CARNIVAL CORP 

The British-American cruise operator mentioned its 2024 income steering doesn’t embody an estimated impression of as much as $10 million linked to the collapse.

COLONIAL PIPELINE COMPANY

The most important pipeline system for refined oil merchandise within the U.S. paused nominations to ship gasoline on cycles 15 and 16 on Line 32, which delivers merchandise to its Curtis Bay facility within the port, based on a discover seen by Reuters.

CONSOL ENERGY

The coal producer mentioned vessel entry out and in of the Consol marine terminal, which is situated within the port of Baltimore, has been delayed.

CSX (NASDAQ:)

The rail firm mentioned its current coal prospects ought to count on “potential cargo delays”.

CSX owns the Curtis Bay coal pier in Baltimore, close to the bridge, which it plans to maintain operational for now because it continues to “assess the circumstances,” the corporate mentioned.

FITCH RATINGS

Fitch mentioned it expects minimal impression on operations or manufacturing of North American auto producers or suppliers.

FORD 

CFO John Lawler mentioned the automaker should divert elements to different ports, affecting its provide chain.

“The place workarounds are obligatory within the brief time period, our workforce has already secured transport alternate options,” the agency mentioned.

GENERAL MOTORS

The U.S. carmaker mentioned it’ll reroute automobile shipments to different ports. It anticipated impression to be minimal.

HOME DEPOT 

Residence Depot (NYSE:) mentioned its distribution facilities within the Baltimore space had been “open and working”.

JAGUAR LAND ROVER

The non-public automobile firm mentioned it doesn’t touch upon confidential retailer communications and is monitoring the state of affairs.

LONDON METAL EXCHANGE

LME mentioned warehouses registered with the alternate in Baltimore had not been affected.

LLOYD’S OF LONDON

Bruce Carnegie-Brown, chairperson of Lloyd’s, mentioned the collapse was prone to result in a multi-billion greenback insurance coverage loss and will develop into the most important single marine insurance coverage loss.

MERCEDES BENZ 

The German carmaker, which makes use of Baltimore’s port for imports and owns a plant in Tuscaloosa, mentioned it sees no impression on its automobile exports, and had reviewed and adjusted provide routes.

MOODY’S

Moody’s (NYSE:) mentioned if the port stays closed, re-routing shipments to different east coast spots will erode its aggressive benefit.

MORNINGSTAR DBRS

Morningstar DBRS mentioned insured losses may complete $2-4 billion, surpassing the report lack of the Costa Concordia.

NORFOLK SOUTHERN

CEO Alan Shaw mentioned the corporate is working with prospects to supply logistics workarounds.

RAMACO

The corporate mentioned it’s unaffected by the collapse.

STELLANTIS  

The French-Italian carmaker mentioned it was discussing “contingency plans to make sure an uninterrupted movement of automobiles”, based on a New York Occasions article.

VOLKSWAGEN

The German carmaker mentioned its vessel operations in Baltimore had been unaffected, however there could possibly be trucking delays.

© Reuters. The logo of French Insurer Axa is seen outside a building in Paris, France, February 4, 2022. REUTERS/Sarah Meyssonnier/File Photo

VOLVO GROUP

The Swedish firm, which makes vehicles, building tools and engines, mentioned it at present anticipated no main impression, however was trying over its U.S. stock to see if there could possibly be a disturbance in worst-case situations.



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