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Six construction workers went missing during the Francis Scott Key Bridge collapse. AdvertisementThe six construction workers who went missing after Baltimore's Francis Scott Key Bridge collapsed are presumed dead, a US Coast Guard official said on Tuesday night. Gilreath told reporters that they were suspending active search-and-rescue efforts on Tuesday at 7:30 p.m., local time. AdvertisementBaltimore's Francis Scott Key Bridge had collapsed on Tuesday morning after it was struck by a Singapore-flagged cargo ship, the Dali. BREAKING: Ship collides with Francis Scott Key Bridge in Baltimore, causing it to collapse pic.twitter.com/OcOrSjOCRn — BNO News (@BNONews) March 26, 2024The Francis Scott Key Bridge is a key node within Baltimore's transportation network.
Persons: Francis Scott Key, , Baltimore's Francis Scott Key, we've, Shannon Gilreath, Gilreath, Roland L, Butler Jr, Butler, Kevin Cartwright, Dali, Paul Wiedefeld, James Wallace Organizations: Coast Guard, Service, US Coast Guard, Maryland State Police, Baltimore Fire Department, New York Times, BI, Maryland Transportation Locations: Singapore, Dali, Colombo, Sri Lanka, Baltimore, Maryland
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
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
Claims from the container ship Dali's crash into Baltimore's Key Bridge could cost insurers a lot. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . With the crash of the container ship Dali into the Francis Scott Key Bridge in Baltimore on Tuesday, insurance underwriters are updating those books as a picture of the true cost of damages emerges. Economists told Business Insider the port closure itself will cost $15 million a day in lost economic activity, with other disruptions pushing the total into the tens of millions a day. AdvertisementStill, the collapse of the Key Bridge could lead to "one of the largest claims ever to hit the marine (re)insurance market," John Miklus, the president of the American Institute of Marine Underwriters, told Insurance Business.
Persons: , Dali, Francis Scott Key, Marcos Álvarez, Edward, doesn't, Lloyd's, John Miklus Organizations: Service, Barclays, Bloomberg, Port, Reuters, Lloyd's, American Institute of Marine Underwriters, Insurance Business Locations: London, Baltimore, Port of Baltimore, Britannia
CNBC Daily Open: U.S. consumers' optimism wanes
  + stars: | 2024-03-27 | by ( Sumathi Bala | ) www.cnbc.com   time to read: +2 min
This 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. Cocoa prices soarCocoa prices are surging and this could impact consumers as the world struggles with a supply deficit. The cocoa futures contract for May delivery rose to an all-time intraday high of $10,080 per metric ton Tuesday. [PRO] ETFs that stand outGiven the market volatility, investors are looking to exchange-traded funds to position their portfolios.
Persons: Dow, Francis Scott Key, Richard Meade, Paul, Tim Cook, Vahan Janjigian Organizations: CNBC, Street, U.S, Nasdaq, Rabobank, Apple, Greenwich Wealth Management Locations: Port of Baltimore, U.S, Baltimore
This 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. India is one of the biggest markets for gold, which plays a key role in its culture. Scramble over port shutdownLogistics firms are left scrambling after the closure of the Port of Baltimore, one of the busiest ports in the U.S. Cocoa prices soarCocoa prices are surging and this could impact consumers as the world struggles with a supply deficit.
Persons: Yen tumbles, Dow, BlackRock's Larry Fink, Francis Scott Key, Richard Meade, Paul, Vahan Janjigian Organizations: CNBC, Nikkei, CSI, Nasdaq, Rabobank, Greenwich Wealth Management Locations: Seng, Blackrock, India, Port of Baltimore, U.S, Baltimore
The bridge in Baltimore fell into the Patapsco River on Tuesday after a 984-foot ship crashed into it. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Hold all traffic on the key bridge," the officer said. "10-4, all traffic on the key bridge is down, we got workers in the water," he said. The collapse of the Francis Scott Key Bridge is likely to cause major disruptions to the supply chains of multiple industries, with about 11.3 million vehicles using the bridge annually.
Persons: , Francis Scott Key, Dali, Wes Moore, " Moore, BI's Dominic Reuter Organizations: Authorities, Service, Maryland Transportation Authority Police, Business, YouTube, Washington Post, Maritime, Port Authority, US Coast Guard, Maryland Gov, MTA Police, Reuters Locations: Baltimore, Patapsco, Singapore, that's, , Port
Dali, the 984-foot-long cargo ship that collided with the Baltimore Key Bridge, is considered a standard size. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementDali — the cargo ship that collided with the Francis Scott Key Bridge in Baltimore on Tuesday measures 984 feet in length. It sounds massive, but that's just the regular size for such vessels these days, a veteran ship's officer told The Conversation on Tuesday. "That's about standard size these days," Allan Post, who is now the deputy superintendent at Texas A&M University's maritime academy, told the nonprofit media outlet.
Persons: Dali, , Francis Scott Key, that's, Allan Post Organizations: Baltimore, Service Locations: Baltimore, Texas
The steel frame of the Francis Scott Key Bridge sits on top of the container ship Dali after the bridge collapsed on Tuesday. After the 1980 collision, he argued, more substantial dolphins or a fendering system should have been added to the Key Bridge. “You knock out one of the support posts, the entire bridge collapses.”The Key Bridge is hardly unique among large bridges in its age. Some other bridges that cross major shipping routes are designed with more extensive protections than the Key Bridge’s. In the wake of the Key Bridge collapse and with the rise of larger container ships, some experts said that engineers should reassess necessary bridge safety features.
Persons: Baltimore’s Francis Scott Key, It’s, Dali, Francis Scott Key, Jim Watson, , Rick Geddes, Wes Moore, That’s, Jean, Paul Rodrigue, Martin Bernetti, , Mark Wilson, Hussam Mahmoud, Rod Sullivan, Arthur Ravenel Jr, Savannah’s Talmadge, Los Angeles ’ Vincent Thomas Bridge, ” Geddes, Barzin Mobasher, Mobasher, ” CNN’s Daniel Medina, Majlie, Puy, Yahya Abou, Ghazala Organizations: CNN, Getty, Cornell University’s Program, National Research, Evening Sun, Coast Guard, Sun, Maryland Gov, Texas, M University, Galveston, National Research Council, Maryland Transportation Authority, Francis Scott Key Bridge, Colorado State University, Sunshine Skyway, Tampa Tribune, New, Bridge, Arizona State University Locations: Bridges, Baltimore, AFP, Nagoya, Dali, Panama, United States, Panama City, Baltimore , Maryland, Tampa, Florida, Charleston , South Carolina, Los Angeles
Minneapolis CNN —The collapse of the the Francis Scott Key Bridge in Baltimore on Tuesday is unfortunately not the first deadly collapse of a major interstate bridge in the US. About 140,000 cars a day traversed the I-35W bridge that once stood more than 100 feet above the Mighty Mississippi. Steve Helber/APIt’s not a complete apples to apples comparison between the I-35W bridge and the Key Bridge. The Key Bridge had about 22% of the daily traffic of the I-35W Mississippi River Bridge; however, the Minneapolis bridge was about 22% the length of the truss bridge in Baltimore. In the immediate aftermath of the Key Bridge collapse, Levinson told CNN that this event should hopefully bring attention to vulnerabilities of critical pieces of infrastructure.
Persons: Francis Scott Key, ” Christopher Phelan, Minneapolis , Minnesota Mandel Ngan, MnDOT, Nancy Daubenberger, George W, Bush, ” Phelan, Tim Walz, Steve Helber, ” Ryan Petersen, David Levinson, , Levinson, Feng Xie, Xie, ” Levinson Organizations: Minneapolis CNN, Twin, University of Minnesota, CNN, Getty, Minnesota Department of Transportation, NPR, US, Minnesota, Minnesota Gov, Coast Guard, Port, University of Sydney, Minneapolis Star, Transportation Planning, Technology Locations: Minneapolis, Baltimore, Mississippi, Twin Cities, Mighty Mississippi, Minnesota, Minneapolis , Minnesota, AFP, City, Lakes, Anthony Falls, Maryland, Baltimore , Maryland, Port of Baltimore, Australia
A member of Brawner Builders survived the Francis Scott Key Bridge collapse. The bridge collapse was triggered by a ship collision. AdvertisementOne construction worker survived the devastating collapse of the Francis Scott Key Bridge in Baltimore on Tuesday morning. Six other workers are presumed dead, Jeffrey Pritzker, the executive vice president of Brawner Builders, the workers' employer, confirmed to Business Insider. This story is available exclusively to Business Insider subscribers.
Persons: Francis Scott Key, , Jeffrey Pritzker, Pritzker Organizations: Builders, Service, Brawner Builders, Business Locations: Baltimore
Six construction workers are presumed dead after Baltimore's Francis Scott Key Bridge collapsed. They are all migrants from Central America, their coworker told The Baltimore Banner. The workers are presumed dead, and recovery efforts are underway. AdvertisementNew information is emerging about the six construction workers who are presumed dead after Baltimore's Francis Scott Key Bridge collapsed Tuesday morning. The workers were all migrants from Mexico and Central America, according to reports.
Persons: Baltimore's Francis Scott Key, , Jesus Campos Organizations: Baltimore Banner, Service, Brawner Builders, Business Locations: Central America, Mexico, El Salvador, Guatemala, Honduras
Rock wall No obvious fender system Island Barrier Fender No obvious fender system Rock wall Island Barrier FenderHow Fenders Might Have Protected Against Bridge CollapseThe Francis Scott Key Bridge did not have an obvious fender system, or protective barriers, to redirect or prevent a ship from crashing into the bridge piers. Francis Scott Key Bridge Patapsco River Pier No obvious fender system Francis Scott Key Bridge Patapsco River Pier No obvious fender system The New York Times; aerial image via NearmapEngineers point out that some other bridges have more robust barriers. The Verrazzano-Narrows Bridge in New York City has rock walls surrounding its piers. Verrazano-Narrows Bridge New York Harbor Pier Rock wall STATEN ISLAND Verrazano-Narrows Bridge Pier New York Harbor STATEN ISLAND Rock wall The New York Times; aerial image via Vexcel ImagingIsland barriers were installed around the Sunshine Skyway Bridge piers in Tampa Bay, Fla., after a ship crash caused the span’s collapse in 1980. Sunshine Skyway Bridge Tampa Bay Pier Island barrier Sunshine Skyway Bridge Tampa Bay Pier Island barrier The New York Times; aerial image via Vexcel ImagingEven smaller bridges like this one near Cape May, N.J., have fenders.
Persons: Francis Scott Key Organizations: New York Times, Nearmap Engineers, Sunshine, Sunshine Skyway, Creative Composites, Times Locations: New York City, York, Pier, STATEN, Tampa Bay, Fla, Tampa, Cape May, N.J, county
Read previewThe collapse of the Francis Scott Key Bridge on Tuesday is a reminder that the economy remains vulnerable to sudden supply-chain shocks, experts say. Here's how the catastrophe could affect the economy, trade, and the city of Baltimore. "This event will have greater economic implications for the Baltimore economy than nationally," Oxford Economics' chief US economist Ryan Sweet said on Tuesday in a research note. The container ship Dali collided with a key bridge in Baltimore on Tuesday. The port of Baltimore is the busiest for "roll-on/roll-off" cargo, which includes cars, light trucks, and agricultural and construction equipment.
Persons: , Francis Scott Key, Dali, Ryan Sweet, Michael A, McCoy, Sweet, Michael Tamvakis, Tamvakis, Ioannis Moutzouris, Moutzouris Organizations: Service, Business, Maersk, Oxford Economics, Washington Post, Getty, JPMorgan, International Monetary Fund, City , University, London's Bayes Business, Maxar, University of London Locations: Baltimore, Norfolk, New York, New Jersey, Suez
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
Experts told Business Insider that the port alone contributes $15 million in daily economic activity, which will come to a near standstill "until further notice." While some cargo will have to wait, container ships can largely be rerouted to other east coast locations. Ryan Peterson, the CEO of global logistics firm Flexport, told Business Insider that 800 containers of his were destined for Baltimore, and are now being rerouted. And it's unclear whether East Coast ports will have enough available capacity to absorb Baltimore's container volume, Petersen said. A risk for Baltimore will be whether those route changes are temporary, or if they'll have a lasting impact on the port's business.
Persons: , Baltimore's Francis Scott Key, Port, Anirban Basu, It's, Basu, Daraius Irani, Ryan Peterson, Petersen, we're, Martin Dresner Organizations: Service, Business, Sage Policy, Regional Economic Studies, Towson University, University of Maryland's Smith School of Business Locations: Port of Baltimore, Baltimore, East Coast, West Coast
CNN —They worked the overnight shift fixing potholes on a famed bridge that 30,000 Marylanders relied on every day. Martin SuazoMaynor Yassir Suazo Sandoval, 38, was one of the construction workers who vanished after the bridge collapse, his brother Martin Suazo told CNN. Family members in Baltimore called Martin Suazo early Tuesday morning to tell him his brother was missing, Suazo said. He was married with two children – an 18-year-old son and a 5-year-old daughter, Martin Suazo said. “The entire Baltimore region and CASA family is lamenting this tragedy,” Torres said.
Persons: Yassir Suazo Sandoval, Martin Suazo, Suazo, Maynor Suazo, Maynor, , Sandoval, Miguel Luna, Francis Scott Key, Gustavo Torres, “ Miguel Luna, , ” Torres, Tina Burnside Organizations: CNN, FBI, Honduran Embassy, Maryland, CASA Locations: Baltimore, Santa Bárbara, Honduras, Honduran, Washington, Maryland, El Salvador
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. With the crash of the container ship Dali into the Francis Scott Key Bridge in Baltimore on Tuesday, insurance underwriters are duly updating those books as a picture emerges of the true cost of damages. Economists told Business Insider the port closure itself will cost $15 million per day in lost economic activity, with other disruptions pushing the total into the tens of millions per day. All told, Barclays said insurance companies could be looking at claims as high as $3 billion as a result of the crash, Bloomberg reported. AdvertisementStill, the collapse of the Key Bridge could lead to "one of the largest claims ever to hit the marine (re)insurance market," John Miklus, president of the American Institute of Marine Underwriters, told Insurance Business.
Persons: , Dali, Francis Scott Key, Morningstar, Marcos Alvarez, Edward Lloyd, doesn't, Lloyd's, John Miklus Organizations: Service, Business, Barclays, Bloomberg, Port, Reuters, Lloyd's, American Institute of Marine Underwriters, Insurance Business Locations: London, Baltimore, Port of Baltimore, Britannia
Follow our live coverage of the Francis Scott Key Bridge collapse in Baltimore. But after the cargo ship Dali lost power early Tuesday, there were precious few minutes to act. In those minutes, many people — from the ship’s crew, who sent out a mayday signal, to the transportation authority police officers, who stopped traffic heading onto the Francis Scott Key Bridge — did what they could to avert catastrophe, most likely saving many lives. And the Key Bridge was particularly vulnerable. As long ago as 1980, engineers had warned that the bridge, because of its design, would never be able to survive a direct hit from a container ship.
Persons: Francis Scott Key, Dali Organizations: Eastern Seaboard Locations: Baltimore
"The impact of the Baltimore port stoppage on construction and contractor supply chains may be significant," said William George, director of research for ImportGenius. "For cargo already on water, we will omit the port, and will discharge cargo set for Baltimore, in nearby ports. COSCO announced Wednesday morning that its services would "be concluded" once the diverted container arrives at the alternate port. Out of the diverted ports, New York/New Jersey and Savannah, are included. One of the biggest concerns among logistics companies is availability of chassis for both truck and rail to handle the diverted cargo.
Persons: Dali, Francis Scott Key, William George, ImportGenius, Maersk, COSCO, majeure, CGM, Paul Brashier, Brashier, Matt Castle, Robinson, Val Noel, Mike Wilson, Noel, Alan Baer, Baer, Stephen Edwards, Edwards Organizations: Francis Scott Key Bridge, Logistics, CNBC, Baltimore, Evergreen, CMA, ITS Logistics, U.S Department of Transportation, Home Depot, Nike, Walmart, Union Pacific, BNSF, Robinson, DHL, FedEx, Port, DOT's, Rail, TRAC, Freight, Consolidated Chassis Management, USA, Norfolk . Our Midwest Locations: Baltimore , Maryland, Baltimore, The Port, U.S, Port of Baltimore, Target, East, , New York, New Jersey, Savannah, Chicago, Brunswick, Virginia, Charleston, New York, Philadelphia, Norfolk, Wilmington , Savannah, Jacksonville, UAE, Saudi, Doha, India, Bangladesh, NY, Montreal, Port of Virginia, Port
Shortly before a massive cargo ship struck the Francis Scott Key Bridge early Tuesday, crew members issued a mayday call that allowed officers a few precious minutes to close down the bridge to traffic, likely saving lives. A construction crew fixing potholes was unable to escape in time. The effort to rapidly shut down traffic likely prevented more cars from being on the bridge during the collapse, officials said. Here is a transcript of audio from a Maryland Transportation Authority Police channel, revealing how officers responded to the mayday call and successfully halted traffic. The audio was posted on the Broadcastify website.
Persons: Francis Scott Key Organizations: Francis Scott Key Bridge, Maryland Transportation Authority Police
The Francis Key Bridge collapse has ignited debates about the safety of America's infrastructure. AdvertisementThe 984-foot container ship that caused the Francis Scott Key Bridge to collapse has raised questions about whether the structure could have been saved. AdvertisementAs the city grapples with the fallout, discussions have started to grow around the bridge collapse. A bridge engineering expert also pointed them out to the Sydney Morning Herald in an article discussing whether a similar bridge collapse could happen in Australia. Gao said that more robust protections "could have potentially prevented the bridge collapse."
Persons: Francis Key, , Francis Scott Key, Dali, Donna Deegan, Colin Caprani, Mimi Gao, Donald O, Francis Scott Bridge, BRENDAN SMIALOWSKI, Wes Moore, Pete Buttigieg, Gao, Tim Broyd, Broyd Organizations: Service, Dolphins, Jacksonville, Dame, Sydney Morning Herald, Sunshine, Singapore Chamber of, Ships, New York Times, Getty, Maritime, Port Authority, Maryland Gov, University College London, UK's, of Civil Engineers, Engineers Locations: Singapore, Port, Baltimore, Florida, Australia, Port of Baltimore, AFP
The remains of the Francis Scott Key Bridge on March 26, 2024 in Baltimore. Michael A. McCoy | The Washington Post | Getty ImagesThe Baltimore bridge collapse on Tuesday prompted carmakers to assess operations after the closure of the busiest U.S. auto port. Six people who had been working on the bridge were presumed dead on Wednesday, after rescuers failed to find them. The Port of Baltimore, the 11th largest port in the U.S. and its busiest for autos and light trucks, has been closed until further notice. Sweden's Volvo Group said it did not expect a significant impact, but was checking its U.S. production facilities.
Persons: Francis Scott Key, Michael A, carmakers, Dimitris Psillakis, it's, Psillakis Organizations: Francis Scott Key Bridge, McCoy, Washington Post, Getty, Logistics, Mercedes, Benz, CNBC, Baltimore, Volkswagen Group of America, Germany's Volkswagen, VW, Audi, Lamborghini, Bentley, Atlantic, Volvo Group, General Motors, Ford, Toyota, Nissan, Mitsubishi Locations: Baltimore, Port, U.S, East, Brunswick, Georgia
The Key Bridge was hit by a ship and collapsed on March 26, 2024. The incident, which has wreaked havoc at one of the country's busiest ports and sparked fears about supply chain disruption, has raised questions about the Singapore-flagged container ship involved. In an aerial view, cargo ship Dali is seen after running into and collapsing the Francis Scott Key Bridge on March 26, 2024 in Baltimore, Maryland. Tasos Katopodis | Getty ImagesHowever, Singapore's port authority on Wednesday said that the container ship had passed overseas inspections and carried certificates to cover its structural integrity and functionality at the time of the Baltimore bridge incident. In the June inspection, the container ship was found to have had a faulty monitor gauge for fuel pressure, but this was fixed before the vessel departed the port.
Persons: Francis, Dali, Wes Moore, Moore, Francis Scott Key, Tasos Katopodis Organizations: Washington Post, The Washington Post, Getty, Bridge, Maryland, NBC, Francis Scott Key Bridge, Port Authority Locations: Baltimore, Patapsco, Singapore, Sri Lanka, Belgium's Port of Antwerp, Europe, San Antonio, Chile, Baltimore , Maryland
Baltimore's Francis Scott Key Bridge collapsed Tuesday morning after a container ship crashed into it. Carnival Cruise Line is temporarily relocating the Carnival Legend's homeport from Baltimore to Norfolk, Virginia. The company is providing guests on the ship, returning on Sunday, with a bus back to Baltimore. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOn Sunday, travelers on Carnival Cruise Line's Legend ship will return home after a relaxing weeklong vacation in the Caribbean.
Persons: Baltimore's Francis Scott Key, , Francis Scott Key Organizations: Service, Business Locations: Baltimore, Norfolk , Virginia
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