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

Subject: Geography

Section: Eco Geography

Context:

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

More on news:

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 harbors in the United States.
Attacks on the Red Sea by Yemen’s Houthi group have reduced traffic traveling through the Suez Canal, through which some 15 percent of the world’s shipping traffic passes.
The Panama Canal, which handles 6 percent of the world’s maritime commerce, is experiencing decreasing water levels, reducing the canal’s capacity

About Baltimore bridge:

The Francis Scott Key Bridge was a steel arch continuous through a truss bridge that spanned the lower Patapsco River and outer Baltimore Harbor / Port.
Ports in Philadelphia, Wilmington, Delaware; Newark, New Jersey; Norfolk; Charleston, South Carolina; Jacksonville, Florida; and Georgia (Savannah and Brunswick) also could see additional cargo.

Why is Port important?

The Port of Baltimore is the ninth largest US port in terms of overall trade volume.
It handles cargo including automobiles, machinery, agricultural equipment, liquefied natural gas and sugar.
The port processed 847,158 automobiles last year, according to figures from the state of Maryland. About 70 percent of these were imported.