What is the economic cost of Baltimore’s bridge collapse?

The Baltimore port’s closure could cost the economy $15m per day while insurers face up to $3bn in claims.

The collapse of a major bridge in Baltimore earlier this week has led to the suspension of vessel traffic at the Port of Baltimore, one of the busiest harbours in the United States, until further notice.

On Wednesday, it was reported that Maryland would receive initial funding of $60m from the federal government as state authorities work to clear the debris from the disaster. This emergency relief funding is to cover “mobilisation, operations and debris recovery”, the state said.

Here’s what we know so far about how this suspension might affect trade, insurers and the supply chain.

The Francis Scott Key Bridge in Baltimore, Maryland, a steel bridge opened in 1977 which spanned the lower Patapsco River and the outer Baltimore harbour, collapsed when a container ship hit one of its support pillars at about 1:27am (05:27 GMT) on Tuesday.

Cars that were crossing the bridge fell into the river, and six workers went missing and are now presumed dead.