Rep. Dan Meuser (R-Pa.) on Thursday criticized President Joe Biden for calling on Congress to pay for the cost of fixing the Francis Scott Key Bridge in Baltimore after it was struck by a ship and collapsed this week, leaving six people presumed dead and a major shipping port closed for the foreseeable future. “It … Read more
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Baltimore’s Francis Scott Key Bridge collapse could cost insurers billions of dollars in claims, analysts say, with one putting it at as much as $4 billion, which would make the tragedy a record shipping insurance loss. Six people are still missing after a collision with a Singapore-flagged container ship destroyed the landmark bridge on Tuesday, … Read more
Even before an enormous container ship rammed a bridge in Baltimore in the early hours of Tuesday, sending the span hurtling into the Patapsco River, and halting cargo traffic at a major U.S. port, there was ample reason to worry about the troubles dogging the global supply chain. Between swirling geopolitical winds, the variables of … Read more
The Key Bridge was hit by a ship and collapsed on March 26, 2024. The Washington Post | The Washington Post | Getty Images Six construction workers were presumed dead on Wednesday after a massive cargo ship struck the Francis Scott Key Bridge in Baltimore, causing it to partially collapse into the Patapsco River. The … Read more
Prices are displayed in a grocery store on February 01, 2023 in New York City. Leonardo Munoz | Corbis News | Getty Images 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. Like … Read more
Cargo ship Dali sits in the water after running into and collapsing Baltimore’s Francis Scott Key Bridge on March 27, 2024 in Baltimore, Maryland. Two survivors were pulled from the Patapsco River and six missing people are presumed dead after the Coast Guard called off search and rescue efforts. A work crew was fixing potholes … Read more
WASHINGTON — Transportation secretary Pete Buttigieg on Wednesday said it was unclear that any bridge in existence could have withstood the impact of a modern freighter that the Francis Scott Key Bridge in Baltimore suffered earlier this week, which demolished the structure and shuttered the city’s port. “It’s not just big as a building, it’s … Read more
Ocean carriers are declaring “force majeure” due to the Baltimore port bridge crisis, telling logistics companies and U.S. shippers including retailers that once cargo is dropped off at alternate ports, it becomes their responsibility to pick up. In an alert to customers Tuesday, CMA CGM wrote, “Those (containers) on the water will be discharged at … Read more
The remains of the Francis Scott Key Bridge on March 26, 2024 in Baltimore. Michael A. McCoy | The Washington Post | Getty Images The Baltimore bridge collapse has prompted carmakers to assess operations after the closure of the busiest U.S. auto port. Many do not expect major disruptions so far. In a dramatic scene, … Read more
