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Two victims of the Baltimore bridge collapse were recovered from the Patapsco River Wednesday. Police said divers located a red pickup trick that the men were "trapped" inside. Four men who were working on the bridge when it collapsed are presumed dead and have not been found. AdvertisementTwo of the victims of the Baltimore bridge collapse on Tuesday were recovered from a submerged red pickup truck, authorities said during a news conference on Wednesday. The Francis Scott Key Bridge collapsed after it was struck by the container ship Dali in the early morning hours on Tuesday while construction workers were doing overnight work on the bridge.
Persons: , Francis Scott Key, Dali Organizations: Police, Service, Business Locations: Baltimore, Patapsco
I booked a business-class ticket on an Amtrak train from NYC to Niagara Falls, New York, in 2022. AdvertisementFor a 10-hour train ride from NYC to Niagara Falls, New York, in August 2022, I booked a business-class ticket on an Amtrak train for $168. It was $100 more than a coach ticket on the same ride. I previously took a business-class ride on Amtrak from Baltimore to NYC. Ultimately, I found that business class wasn't worth the added price since the experience felt too similar to a typical ride in coach.
Persons: , I'd Organizations: Amtrak, Service Locations: NYC, Niagara Falls , New York, East, Baltimore, Niagara
The highly specialized role — in which a pilot temporarily takes control of a ship from its regular captain — is coming under the spotlight this week. But in the end, maritime experts say, there was likely nothing the pilots could have done to stop the 95,000-ton ship from ploughing into the bridge. “A ship's captain is a general practitioner, if I was to use a medical term,” Post said. He or she would be assigned to one ship leaving a port, Post said, and then disembark to board a second, inbound ship. “They had very little time from the start of the incident until the time they were upon the bridge," Post said.
Persons: , Dali, Francis Scott Key, It’s, Allan Post, what’s, didn't, Post, Organizations: National Transportation Safety, Texas, M Maritime Academy, ” Ship, Association of Maryland Pilots, NTSB Locations: Galveston, , U.S, Chesapeake, Baltimore
CNBC Daily Open: Focus turns to key inflation data
  + stars: | 2024-03-28 | by ( Sumathi Bala | ) www.cnbc.com   time to read: +2 min
Photographer: Christopher Dilts/Bloomberg via Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Xi on China tech progressChinese President Xi Jinping told Dutch Prime Minister Mark Rutte that no force can stop China's tech advance. Separately, Xi also told U.S. executives that bilateral ties can have a "brighter future" and vowed to improve the business environment. The next few days could prove crucial in diverting trade away from the port, logistics executives told CNBC, after a container ship collided into the Francis Scott Key Bridge early Tuesday.
Persons: Christopher Dilts, Topix, Xi, Xi Jinping, Mark Rutte, Janet Yellen, Yellen, Francis Scott Key, David Neuhauser Organizations: Bloomberg, Getty, CNBC, Nikkei, U.S ., CSI, Dow, Nasdaq, Dutch, Xinhua News Agency, U.S, Treasury, Francis Scott Key Bridge, Livermore Partners Locations: Chicago , Illinois, Japan, Seng, China, Beijing, U.S, Baltimore, Port of Baltimore
The true face of immigration
  + stars: | 2024-03-28 | by ( Stephen Collinson | ) edition.cnn.com   time to read: +3 min
CNN —Baltimore was sleeping when the fully laden cargo ship, adrift and without power, slammed into the Francis Scott Key Bridge, bringing it down in seconds. All of those missing were immigrants, outsiders who had come to the US from Mexico and Central America for a better life. Miguel Luna, an immigrant from El Salvador, has been identified as one of the six people who was on the Francis Scott Key Bridge when it collapsed Tuesday. And when the Francis Scott Key Bridge rises again, it’s a good bet it will be immigrants who are building it. CORRECTION: This story has been updated to reflect that the missing immigrants in the Baltimore Key Bridge collapse were from Central America.
Persons: Francis Scott Key, Donald Trump, Biden, ” Trump, Trump’s, Miguel Luna, Maynor Yassir Suazo Sandoval, Yassir Suazo Sandoval, Martin Suazo, it’s Organizations: CNN, Central America, , CNN One Locations: Mexico, Central, United States, Manchester , New Hampshire, El Salvador, Maryland, Honduran, Baltimore, Central America
U.S. President Joe Biden speaks about on the ongoing response to the Key Bridge collapse in Baltimore, Maryland, during brief remarks prior to departing the White House in Washington, U.S., March 26, 2024. Wes Moore warned Thursday of a "very long road ahead" to recover from the loss of Baltimore's Francis Scott Key Bridge as the Biden administration approved $60 million in immediate federal aid after the deadly collapse. President Joe Biden has pledged the federal government would pay the full cost of rebuilding the bridge. The devastation at the site of the collapse, which happened when the powerless cargo ship struck a pillar supporting the bridge early Tuesday, is extensive. Investigators shared a preliminary timeline of events before the crash, which federal and state officials have said appeared to be an accident.
Persons: Joe Biden, Wes Moore, Baltimore's Francis Scott Key, Biden, Moore, Roland L, Butler Jr, Dali, Investigators Organizations: White, Maryland Gov, Democrat, U.S . Coast Guard, Divers, Maryland State Police, National Transportation Safety Locations: Baltimore , Maryland, Washington , U.S, U.S, Maryland
The S&P 500 index rose 10.2% during the first three months of the year, its best first-quarter performance since 2019. The S&P 500 on Thursday logged its 22nd record-high close of the year. Companies in the S&P 500 saw earnings grow 4.3% during the fourth quarter of 2023 from the prior year, according to FactSet data. Analysts polled by FactSet expect S&P 500 earnings to grow by more than 10% for all of 2024. About 140,000 cars a day traversed the I-35W bridge that once stood more than 100 feet above the Mighty Mississippi.
Persons: Bell, Bitcoin, What’s, Leslie Thompson, Warren Buffett’s, Zachary Hill, , Elisabeth Buchwald, Samantha Delouya, Ron DeSantis, DeSantis, Disney’s, Bob Chapek, “ Don’t, ” Chapek, ” DeSantis, “ I’m, Read, Francis Scott Key, Alicia Wallace, ” Christopher Phelan, ” Read Organizations: CNN Business, Bell, New, New York CNN, Traders, Dow Jones Industrial, Nasdaq, Investment Research, Dow, Apple, Nvidia, Meta, Microsoft, Spectrum Wealth Management, Companies, FactSet, Research, Horizon Investments, Disney, Central, Republican Gov, Central Florida Tourism, Twin, University of Minnesota, CNN Locations: New York, China, Florida, Central Florida, Central Florida Tourism District, Orlando, Baltimore, Minneapolis, Mississippi, Twin Cities, Mighty Mississippi, Minnesota
MSC, the largest ocean carrier in the world, has joined the list of ocean carriers terminating the delivery of diverted containers outside of the port for shipping clients as a result of the container ship accident near the Port of Baltimore that led to the tragic bridge collapse. With the Baltimore port indefinitely closed, the decision places the onus of cargo pick up at a diverted port and transport to its final destination on the shipper. MSC added that "passage to and from Baltimore is at this time impossible and will not be reestablished for several weeks if not months." Maersk is the only major carrier to say it will provide transport from diverted ports for customers. Maersk was the charter of the Dali, 10,000-container capacity containership that lost control and crashed into the Francis Scott Key Bridge in the early hours of Tuesday.
Persons: Francis Scott Key Organizations: CNBC, MSC, Port, CMA, Evergreen, Maersk Locations: Port of Baltimore, Baltimore, Dali
Erin Schaff/The New York TimesForce of Ship Collision Was on the Scale of a Rocket LaunchThe container ship Dali appeared to move sluggishly before striking the Francis Scott Key Bridge in Baltimore on Tuesday. Experts disagreed on whether it was reasonable for any bridge pier to withstand a direct collision with a massive container ship. F = ma force mass acceleration F = ma force mass accelerationOur first task, and a major source of uncertainty, was finding those numbers. F= (100,000 to 195,000 metric tons) × (7.8 mph - 2.5 mph) / 38 seconds mass acceleration F= (100,000 to 195,000 metric tons) × (7.8 mph - 2.5 mph) / 38 seconds mass acceleration For the actual calculation, we used metric units. We tried one more method: using a formula to calculate the ship collision force published by the American Association of State Highway and Transportation Officials, the industry organization that publishes bridge safety standards.
Persons: Erin Schaff, Dali, Francis Scott Key, , , Ben Schafer, Nii, Sherif El, Themistoklis Sapsis, Tawil Organizations: The New York Times Force, Empire, Saturn, Johns Hopkins, University of Maryland, University of Michigan, M.I.T, American Association of State, Transportation, U.S . Army Corps, Engineers, Reuters, Sunshine Skyway Locations: Baltimore, Dali, Tampa Bay, Florida
Sachin Saxena is a former ship captain who spent 13 years navigating the globe on large ships. AdvertisementThis as-told-to essay is based on a conversation with Sachin Saxena, a 45-year-old former ship captain from Singapore. I captained ships transporting liquid petroleum gas from Asia to the United States for 13 years, from 1997 to 2010. Entering or leaving a port is one of the most challenging parts of any voyage. This will start about 45 seconds after the ship's power has failed.
Persons: Sachin Saxena, , Dali, Francis Scott Key, aren't, I'd Organizations: Service, Baltimore Locations: Dali, Singapore, Asia, United States, Baltimore
Economist discusses Baltimore bridge collapse
  + stars: | 2024-03-28 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBaltimore bridge collapse won't be 'straw that broke the camel's back' in global shipping: EconomistHarry Murphy Cruise, associate economist at Moody's Analytics, says, however, that it comes at a "really fragile time" in global shipping.
Persons: Harry Murphy Cruise Organizations: Moody's Locations: Baltimore
It is entirely possibly that millions of Americans encountered false claims about the bridge collapse when they woke up Tuesday morning before ever seeing the facts. Politics is everythingWhat is perhaps most notable about how quickly and widely conspiracy theories about a breaking news story spread is just how normal this all is right now. Jewish space lasersAs news unfolded on Tuesday, the conspiracy theories continued. Greene has not weighed in on the cause of the bridge collapse. Jewish space lasers were not responsible for the wildfires, nor the Baltimore bridge collapse.
Persons: Francis Scott Key, Israel, , Ben Decker, Andrew Tate, Tate, Tate’s, Elon Musk, meekly, Sandy Hook, Alex Jones, , ” Jones, Jones, Baltimore’s, Baltimore Mayor Brandon Scott, it’s, Biden, Taylor Swift, Joe Biden, Trump, X, David Simon, Simon, , Marjorie Taylor Greene, Greene Organizations: CNN, Facebook, Maryland State Police, Coast Guard, Baltimore Mayor, Equity, FBI, Republicans, Netflix, HBO, Georgia Republican Locations: Baltimore, Covid, USA, Romania, United Kingdom, Florida, Texas, California, Georgia
The owner of the ship that crashed into the Baltimore bridge faces a mountain of potential lawsuits. Experts say the owner will likely try to invoke an 1851 law to try to cap potential damages. The Limitation of Liability Act was successfully used by the Titanic owner after the 1912 sinking. "If they're fully successful, it will cap how much they have to pay in damages," Michael Sturley, an expert in maritime law and professor at the University of Texas at Austin's School of Law, told BI. However, I must say that the way things look at present, it seems unlikely that a limitation petition will be successful."
Persons: , Maryland's Francis Scott Key, Dali, Michael Sturley, Sturley, Michael A, McCoy, it's, Martin Davies, Davies, Gordon Carey —, Carey, It's Organizations: Titanic, Service, University of Texas, Austin's School of Law, Private Ltd, Grace Ocean Private, Business, Washington Post, Wall Street, Titanic Inc, Maritime Law Center, Tulane University School of Law, White Star, Reuters, Synergy Marine Group, Synergy Marine Locations: Baltimore, Singapore, Sri Lanka, Patapsco, United States, , Oregon, Oregon
Jose López was one of the first in his family to leave Guatemala for a new life in the United States. So in the early 2000s he found his way to Baltimore, a city where strivers have long found a home and where Mr. López made one for himself and his family. The couple had two children, and Jose López often picked them up from school. About two years ago, he took a new job, working late nights for a contractor repairing roads on Maryland bridges. He didn’t mind the arduous hours because he viewed his purpose in life as providing food and shelter for his family, Mr. López’s older brother said.
Persons: Jose López, López, Jovani Locations: Guatemala, United States, Baltimore, Maryland
One of its cruises, the Carnival Legend, departed on Sunday for a seven-day round trip from the Baltimore port and will return instead to Norfolk. Competitors Royal Caribbean and Norwegian Cruise Line were up around 3% and 6% respectively at closing. American Cruise Line also frequents the Baltimore port on East Coast itineraries — its American Glory cruise is set to sail next week. The company has over 30 cruises scheduled from the Baltimore port for the rest of 2024. The Baltimore port is the 17th-largest in the US, and the bridge collapse has left six construction workers presumed dead.
Persons: , Josh Weinstein, Weinstein Organizations: Royal, Cruise, Service, Coast Guard, Royal Caribbean, Cruise Line, Washington Post . Locations: Baltimore, Norfolk , Virginia, Royal Caribbean, Baltimore's, Norfolk, New York, Washington, East
Read previewThe collapse of Baltimore's Francis Scott Key bridge could lead to the biggest losses in the history of marine insurance, the bosses of Lloyd's of London warned on Thursday. "The tragedy has the capacity to become the largest single marine insurance loss ever," the commercial insurance market's chairman Bruce Carnegie-Brown said in an interview with Reuters. Related stories"I would say it's certainly going to be one of the largest marine losses in history, of that there is little or no doubt," he said. Barclays analysts estimate that the disaster could lead to $3 billion in insurance claims, while Morningstar DBRS put the figure at $4 billion. AdvertisementBoth of those figures would surpass the $1.5 billion losses triggered by the Costa Concordia disaster.
Persons: , Baltimore's Francis Scott Key, Bruce Carnegie, Brown, John Neal, Neal, Dali, Morningstar DBRS Organizations: Service, Reuters, Business, BBC Radio, Maersk, Barclays Locations: London, Costa Concordia, Italy
Rent prices for one- and two-bedroom apartments grew in March for the first time in six months. The monthly cost for a one-bedroom apartment across the U.S. bumped up to $1,487, a 0.3% increase from February. The price of a typical two-bedroom apartment also jumped 0.5% to $1,847, according to a new report by Zumper, a real estate data site. For example, the rent price for a one-bedroom apartment in Baltimore, Maryland, is $1,390, down 0.7% from a year ago, per Zumper. "As we get closer and closer to summer, we start to see rent prices increase in more places."
Persons: Zumper, Crystal Chen, Jacob Channel, Susan M Organizations: Zumper, Finance, The Wharton School, University of Pennsylvania Locations: U.S, Baltimore , Maryland, Zumper . Arizona
Ships managed by the Synergy Marine Group — the company that managed the vessel that hit Baltimore's Key Bridge — have been involved in at least three deadly incidents since 2018, according to investigations and statements from officials in Australia, Singapore, and the Philippines. In 2018, a person onboard a vessel managed by Synergy in Australia was killed in an accident involving the ship’s personnel elevator, according to a report from the Australian Transportation Safety Bureau. “Many of these accidents involve the failure to apply existing safety management procedures and/or identified safety barriers that have proven effective in reducing the risks associated with elevator maintenance," the safety board's director, Stuart Macleod, was quoted saying in the report. In 2019, an officer on a Synergy-registered vessel in Singapore was reported missing after “likely fallen overboard while performing inspection or cleaning jobs at the outboard side,” according to a report by Singapore’s Transport Safety Investigation Bureau. The tanker referenced in the Philippine Coast Guard report, Petite Soeur, has been managed by Synergy since October 2022, according to the Electronic Quality Shipping Information System (Equasis) — a global tool promoting maritime safety.
Persons: Stuart Macleod, Organizations: Synergy, , Australian Transportation Safety Bureau, Singapore’s Transport Safety Investigation, Philippines Coast Guard, Philippine Coast Guard, Electronic Quality Shipping Locations: Australia, Singapore, Philippines
In today's big story, we're examining how a change in credit cards' behind-the-scenes fees impacts you… and your points . Under the settlement, merchants could charge customers more for using different cards despite being part of the same Visa or Mastercard network. AdvertisementTim Boyle/Getty Images; Jenny Chang-Rodriguez/BIThe agreement could ultimately reshape how consumers pay for things. AdvertisementPerhaps that's why one analyst told Business Insider's Alex Bitter he doesn't expect major retailers to pass swipe fees along to customers. But maybe, not unlike the fees the agreement targets, what seems small could eventually add up to something big.
Persons: , Jenny Chang, Rodriguez, Insider's Grace Eliza Goodwin, Tim Boyle, David Morris, Alex Bitter, LUDOVIC MARIN, BlackRock's Larry Fink, Jeremy Grantham, Ian Shepherdson, That'll, We've, Meta, Mark Zuckerberg, Facebook execs, Francis Key Scott, Hunter Biden, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, Nickelodeon, Business, Mastercard, Visa, Getty, Fed, Amazon, BI Locations: Europe, LUDOVIC, Baltimore, Port, New York, London
A black box has been recovered from the ship that crashed into a Baltimore bridge. The Dali, a Singapore-flagged cargo ship, hit Baltimore's Francis Scott Key Bridge early Tuesday. AdvertisementWhat exactly went wrong to cause the Baltimore bridge collapse this week? Officials on Wednesday recovered the ship's black box data recorder, which could help investigators piece together what caused the crash. The Singapore-flagged Dali cargo ship crashed into the Francis Scott Key Bridge in Baltimore, Maryland, early Tuesday morning, causing it to collapse.
Persons: Dali, Baltimore's Francis Scott Key, , Jennifer Homendy, Guy Platten —, Francis Scott Key, Wes Moore, James Wallace, Shannon Gilreath Organizations: Baltimore's Francis Scott Key Bridge, Service, Transportation Safety Board, CBS News, International Chamber of Shipping, Bloomberg, Bloomberg Radio, Baltimore, Maritime, Port Authority, Synergy Marine, Baltimore Fire Department, US Coast Guard Locations: Baltimore, Singapore, Baltimore , Maryland, Colombo, Sri Lanka, Maryland, Asia Pacific
The Francis Scott Key Bridge collapse has blocked shipments in and out of the Port of Baltimore. The port is a key shipping point for cars, construction and farm equipment, and coal. The Port of Baltimore is the top US port for roll-on/roll-off cargo, like cars and construction machinery. halbergman/Getty ImagesCoal, gypsum, and sugarIn 2022, coal was among the top export commodities by weight moved through the Port of Baltimore. A research briefing from Oxford Economics said the bridge collapse will likely have a greater impact on the local Baltimore economy than on a national level.
Persons: Francis Scott Key, , Dali, Daraius Irani, Anirban Basu, Ford, Basu, Domino, Sugar, Irani Organizations: Service, Industry, Regional Economic Studies, Towson University, Sage Policy, General Motors, Caterpillar, Port, Baltimore Refinery, Oxford Economics Locations: Port of Baltimore, Port, Baltimore, Patapsco, India, West Virginia
Now, officials say they will need to pause the recovery effort altogether — with four more victims not yet found — so that pieces of the crumpled bridge can first be removed from the Patapsco River. But, he said, other vehicles that fell from the bridge — possibly with the construction workers inside — are trapped behind debris that makes the area too dangerous for divers. Officials said one of the victims was identified by a driver’s license found with him, and another by his fingerprints. Wes Moore of Maryland said that divers started the search for victims less than an hour after the bridge collapsed. He said officials have been taking the recovery part of the search as seriously as they took the rescue effort, when they believed the missing victims might have still been alive.
Persons: Roland Butler, Francis Scott Key, , Colonel Butler, Alejandro Hernandez Fuentes, Dorlian Ronial Castillo Cabrera, Hernandez, Castillo, Wes Moore, Jacey Fortin Organizations: Maryland State Police, Coast Guard, Gov Locations: Baltimore, Patapsco, Mexico, Guatemala, Maryland
Read previewThe Francis Scott Key Bridge in Baltimore collapsed on Tuesday after a large container ship ran into it, leading to six presumed deaths and millions of dollars in possible damage. President Joe Biden said on Tuesday the federal government should be responsible for paying to reconstruct the damaged Francis Scott Key Bridge. The Francis Scott Key Bridge, named for Francis Scott Key, the author of the Star Spangled Banner. Drone footage shows aftermath of the Dali container ship's collision into the Francis Scott Key Bridge in Baltimore, Maryland, on March 26, 2024. AdvertisementThe Dali is covered by the Britannia Steam Ship Insurance Association Ltd., known as Britannia P&I Club, according to S&P Global Market Intelligence.
Persons: , Francis Scott Key, It's, Joe Biden, Biden, David MacKenzie, Dali, Ryan Petersen, Petersen, John Miklus, Britannia Organizations: Service, Business, Sky News, Star, Getty Images Baltimore, Maersk, Synergy Group, Anadolu Agency, Reuters, American Institute of Marine Underwriters, Insurance, Britannia Steam Ship Insurance Association Ltd, P Global Market Intelligence, International Group Locations: Baltimore, Dali, Singapore, Baltimore , Maryland, Britannia, London
These events all happened within the first three months of this year – and all after collisions with large commercial ships. And a month earlier, a large cargo ship collided with the Zárate–Brazo Largo Bridges crossing the Prana River in Argentina, according to now-shuttered government-run news agency Télam – severely damaging the ship, though the bridge remained intact. By contrast, in the Baltimore example, the water channel and bridge are wide and tall enough to accommodate large vessels – and the cargo ship hit the bridge pier, not the bridge itself, Andrawes said. But even these measures can only do so much in the event of a large cargo ship collision, Mercogliano said, pointing to the Baltimore collapse. “And even when the ship hit those dolphins, the ship was so large it towered over them and actually struck the bridge itself.
Persons: Francis Scott Key, DALI, , Sal Mercogliano, Télam, Bassem, Andrawes, it’s, Mercogliano, Baltimore Steve Helber, there’s, Jerome Hajjar Organizations: Hong Kong CNN, University of Illinois, Sunshine Skyway, Coast Guard, Structural Engineering, American Society of Civil Engineers Locations: Hong Kong, Baltimore, China, Argentina, Patapsco, Guangzhou, , Largo Bridges, Urbana, Champaign, Florida
Jesus Campos said he worked at Brawner Builders alongside the men missing after a bridge collapse in Baltimore. “We’re low-income families,” said Jesus Campos, who has worked at the construction company, Brawner Builders, for about eight months. The executive, Jeffrey Pritzker, and the Coast Guard said that all of the missing workers were presumed dead, given how long it had been since the collapse. Embassies for the other two countries mentioned by Mr. Campos did not immediately respond to requests for comment. Officials said that in addition to the six missing workers, two people had been rescued from the water.
Persons: Jesus Campos, , , Jeffrey Pritzker, Mr, Pritzker, “ It’s, Campos, Francis Scott Key, Miguel Luna, Luna, Gustavo Torres, Jacey Fortin, Miriam Jordan, Patricia Mazzei, Emiliano Rodríguez Mega, Kirsten Noyes Organizations: Brawner Builders, Brawner, Coast Guard, Baltimore Banner Locations: Baltimore, Baltimore County, El Salvador, Guatemala, Honduras, Mexico, Maryland, Petén, Mexican, Washington, Brawner
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