Baltimore port closure has minimal impact on Singapore’s car industry

Baltimore port closure has minimal impact on Singapore’s car industry

SINGAPORE: There is no wait in the transfer of American vehicles or its components to Singapore, auto service providers said.

This is even as the Port of Baltimore, the busiest US interface for car shipping, remains closed following the collapse of the Francis Scott Key Bridge.

The Baltimore interface handled at least 750, 000 lorries in 2023, according to statistics from the Maryland Port Administration.

According to industry watchers, shipping companies will redirect their goods to different near ports, but nevertheless, the closure will have little to no impact on US imports to Singapore and its prices. &nbsp,

According to David Wijeratne, global development process companion at consulting company PwC Singapore, the Baltimore port is one of only two ports on the Eastern Seaboard that is strong enough for very big container ships carrying things like cars and farming and construction equipment.

However, based on automotive ownership in Singapore, and the proportion of vehicles arriving from the US as opposed to countries like Japan and China,” that’s a percentage that can probably be managed, especially in the medium to longer term”, he said. &nbsp,

Consumers in the US who anticipate purchasing vehicles from Europe will be aware of the real impact, he added, because those could take months to arrive.