Genco CEO sees small shipping impact from Baltimore bridge crash

The Baltimore bridge disaster will have a “relatively small impact” on global shipping as crews work to clear debris hindering port access, according to a shipping CEO. 

“It’s more of a local economic issue than it is necessarily for global shipping at this point,” John Wobensmith, chief executive officer of Genco Shipping & Trading Ltd., said during a Bloomberg TV interview Wednesday. 

The two channels now open aren’t deep enough to allow Genco vessels to pass, he said. “Hopefully in the next few weeks there will be deeper channels that are established,” he added.

East Coast ports have been modifying operations to absorb cargoes diverted from Baltimore since the disaster.