BALTIMORE BRIDGE COLLAPSE AFFECTING RELOCATION

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Mar 27, 2024, 15:59 ET

OMAHA, Neb., March 27, 2024 /PRNewswire/ -- Early on Tuesday morning, tragedy struck as the Francis Scott Key Bridge in Baltimore, Maryland succumbed to collapse following a collision by the 10,000 container-capacity vessel "Dali" which had lost power while enroute from the U.S. to Colombo, Sri Lanka.

Regrettably, the aftermath of the incident has left at least six individuals unaccounted for. Our hearts and sympathies extend to all those affected by this unfortunate event.

The repercussions of this disaster are anticipated to cause delays and disruptions to the supply chain. The port of Baltimore is the 11^th largest port in the nation and more than 52 million tons of foreign cargo, worth some $80 billion, were transported out of the port last year, according to Maryland Governor Wes Moore.

In consideration of these developments, NEI would like to communicate the latest insights provided by our household goods service partner, Champion International Moving, to help in understanding the current circumstances:

Vessel traffic into and out of the Port of Baltimore is suspended until further notice, but the port remains open for truck transactions.
Cargo that was intended for Baltimore will likely be discharged at nearby ports and reach their final destination by landside transportation.
The bridge (a part of Interstate 695) offered a key transport link between Washington, Baltimore, Philadelphia, and New York.
Delays should be expected on any household goods shipments to/from the Port of Baltimore as well as at nearby ports.

This situation is evolving rapidly, and we will continue to monitor the area and provide updates. NEI and our service partners will keep clients advised of any specific shipments affected, as well as future shipments and the supply chain as we learn more.

If you have any question about this situation, please contact your NEI Client Relations Manager at 800.533.7353 at any time.

This material has been prepared for informational purposes only and is not intended to provide, and should not be relied on for tax, legal or accounting advice. Please consult your own tax, legal and accounting advisors before engaging in any transaction.

SOURCE NEI Global Relocation