Ukrainians just can’t catch a brake.
Bloomberg reports that the US automotive supply chain will be disrupted. Data shows that Mazda Motor and Mercedes Benz, Subaru of America, Mitsubishi Motors of North America, and Volkswagen Group have the most exposure to the port.
“It’s a large port with a lot of flow through it, so it’s going to have an impact,” John Lawler, Ford Motor Co.’s chief financial officer, said Tuesday on Bloomberg TV.
Lawler continued, “We’ll work on the workarounds. We’ll have to divert parts to other ports along the East Coast or elsewhere in the country.”
Earlier, Consol Energy shares plunged nearly 10%, the most since October, as the bridge collapse will affect its massive coal terminal, which is served by CSX trains.
The supply chain snarls have sent major logistics companies scrambling across the US East Coast on Tuesday afternoon.
“Our first priority is engaging clients to make plans for containers that were originally routed to Baltimore that will be discharged at other ports on the Eastern Seaboard,” Paul Brashier, vice president of drayage and intermodal for ITS Logistics, told CNBC.
“These diverted volumes will impact the ports of New York/New Jersey, Norfolk and the Southeast and we have to prepare trucking and transload capacity to get that freight to its intended network,” Brashier said.
