Business

Baltimore bridge collapse: Divers find two bodies in submerged truck

Published

2 years ago

2024/03/28

Priyan

The bodies of two people have been recovered from a red pickup truck, which was under water where the Baltimore bridge collapsed.

Eight construction workers were on the bridge when a ship struck it, plunging them into the waters below. Two of the workers were rescued on the day, but the search continues for the other four – all presumed dead.

Salvage crews are working to address hazardous materials and accident investigators are on the scene.

Four of the six victims of the bridge collapse have been named so far. At a press conference on Wednesday, Maryland State Police identified Alejandro Hernandez Fuentes, 35, and Dorlian Ronial Castillo Cabrera, 26, as the two workers recovered by divers from inside the truck. Mr Fuentes is originally from Mexico and Mr Cabrera is from Guatemala.

But divers are no longer able to safely navigate the waters because of concrete and debris found in the river, police said. They are now using sonar scans and believe that vehicles that may contain other bodies are “encased in superstructure and concrete” that came down from the bridge, an official said.

Two other missing victims, who are presumed dead, have also been named: Miguel Luna, originally from El Salvador, and Maynor Suazo Sandoval, a Honduran citizen.

Mexico’s Ministry of Foreign Affairs said earlier that two of its citizens were presumed dead – one of whom is now identified as Mr Fuentes – while another was rescued from the water.

One person who was in hospital after being pulled out of the water was released, officials said late Wednesday.

First responders spent hours on Tuesday searching the waters of the Patapsco River for the six construction workers, who were working on potholes on the bridge around 01:30 (05:30 GMT) when the ship crashed into the bridge. The US Coast Guard called off the search around sunset, saying cold water temperatures and hours gone by meant the workers were presumed dead.

Officials have pledged to find the bodies of the men for their relatives. “We’ve got to give these families closure,” Wes Moore, governor of Maryland, told reporters on Wednesday, adding that air, land and water resources had been devoted to the search of the victims. “My promise to them is this: I will devote every single resource to make sure that you receive closure,” he said.

But the operation has been challenging, Coast Guard Vice Admiral Peter Gautier said on Wednesday. Divers have been swimming in chilly waters with metal debris from the bridge that fell in the river. The cargo vessel itself is stable but has over 1.5m gallons of fuel oil and lube oil on board, Mr Gautier said.

Roughly 4,700 cargo containers were also on board, including 56 that contained hazardous materials. “The Coast Guard has moved aggressively to board the vessel, and we have teams on board,” Mr Gautier said.

Jennifer Homendy, chair of the National Transportation Safety Board, said some containers with hazardous materials had been “breached”.

The US Navy plans to use barges with heavy lift cranes – some can carry as much as 1,000 tonnes – to remove parts of the bridge that fell in the water.

Investigations into what went wrong on the ship will be crucial, marine specialist Jim Bellingham told the BBC. “An enormous advantage is that the ship didn’t sink so they’ll get access to bridge records and hopefully recordings of what was going on,” he said. Officials are hoping that a data recorder they took from the ship overnight will provide more information.

The Dali was headed toward Sri Lanka when it lost power all of a sudden and issued a distress call before crashing into the Baltimore bridge.

Officials say the bridge collapse at a key port could pose a risk to global supply chains and the US economy.

Mr Moore said that 8,000 jobs could be affected by the bridge collapse and called the incident a “global crisis”. “The national economy and global economy depends on the port,” he said, noting that $80bn (£63.4bn) of cargo moved through there last year.

Paul Wiedefeld, Secretary of the Maryland Department of Transportation, stressed that replacing the bridge will not be a fast process, but he promised at Wednesday’s press conference that officials are working to “come up with a design for the replacement of that bridge as quickly as possible to get the port back up and the community back up and running”.

Experts say Key Bridge’s collapse could lead to losses of up to $15m (£11.8m) per day, until the shipping lane is reopened.

US Senator Ben Cardin of Maryland said he was confident “thanks to the Biden administration” the state would get the necessary resources to recover and begin work on a replacement bridge. “Our top priority is to get the shipping lane open because of the impact it has on our country and the global supply chain,” he said.

Investigators are also hoping to determine whether dirty fuel played a role in the deadly crash. Maritime experts say contaminated fuel can cause a ship to black out as it creates problems with the vessel’s main power generators.

(BBC)

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Business

SpaceX IPO debuts in US markets, Musk becomes world’s first trillionaire

Published

14 hours ago

2026/06/13

Priyan

The Musk led company sold $75bn in shares before the market debut [Aljazeera]

SpaceX has debuted on US markets with a market valuation of more than $2 trillion, minting CEO Elon Musk as the world’s first trillionaire.

Shares opened on Friday at $150 per share, marking a 11 percent increase from the initial public offering (IPO) price of $135, valuing the company at $1.96 trillion and putting the aerospace company on track to become the sixth-largest company in the United States.

The stock surged 18 percent to $159 per share, up from the $135 it had been priced at, as the trading day came to a close.

Markets more broadly ticked higher amid a possible interim peace deal between the United States and Iran that could open the Strait of Hormuz. The Dow Jones Industrial Average is up 0.6 percent, the Nasdaq is up 0.2 percent, and the S&P 500 is up 0.35 percent as trading wraps up for the week.

The company sold $75bn in shares, immediately valuing it at $1.77 trillion. The IPO was oversubscribed four times higher than was otherwise expected, according to the Reuters news agency.

Of the institutional investors allocated, according to Bloomberg News, as much as 70 percent went to what are called long-only investments — a strategy in which holders buy assets based on the expectation that their value will grow over time — and sovereign wealth funds, including those from Saudi Arabia and Kuwait as well.

SpaceX President Gwynne Shotwell and Chief Financial Officer Bret Johnsen rang the opening bell at Nasdaq MarketSite in New York City at 9:30am local time as US markets opened.

On Thursday, protesters gathered outside the MarketSite to protest the IPO amid continued allegations that Grok, part of xAI, a subsidiary of SpaceX, allowed users to create non-consensual deepfake sexualised images before the IPO debut.

Shares of SpaceX did not trade until the middle of the trading day as the exchange collected buy and sell orders and underwriters delayed trading until supply and demand were balanced.

“We would expect SpaceX to see an immediate pop in trading due to the hype around the deal, north of 20 percent perhaps,” said Samuel Kerr, global head of equity capital markets at Mergermarket. “Anything lower would actually make me nervous.”

Exchanges and trading firms are eager to avoid the technical mishaps that marred Meta’s 2012 debut. With SpaceX widely viewed as a dress rehearsal for a new generation of mega-listings, market participants will also be watching for signals on investor appetite in advance of forthcoming IPOs for AI heavyweights Anthropic and OpenAI.

The landmark listing cemented Musk’s status as the first trillionaire ever and propelled SpaceX into the ranks of the world’s most valuable companies — even though the firm posted a loss of nearly $5bn last year and generated only a fraction of the revenue brought in by similarly valued tech giants.

The surge comes amid growth driven by its Starlink subsidiary, which drives as much as 80 percent of its revenue.

On Friday, SpaceX launched its Falcon 9 rocket with 29 satellites into space from Cape Canaveral in Florida.

[Aljazeera]

Business

Indo-Lanka Chamber hosts dialogue on Sri Lanka’s investment future

Published

17 hours ago

2026/06/13

Thilina Walpola

Interactive session with Aritha Wickramasinghe

The Indo-Lanka Chamber of Commerce & Industry (ILCCI), affiliated to The Ceylon Chamber of Commerce, hosted an interactive session on Sri Lanka’s Investment Future: Policy, Opportunity & Growth at Jetwing Colombo Seven. The session was attended by Dr. Satyanjal Pandey as Chief Guest, while Aritha Wickramasinghe delivered the keynote address in his capacity as Chief of Staff to the Office of the Presidential Special Envoy on Foreign Investment, Hanif Yusoof.

ILCCI President M. Raghuraman, in his remarks, expressed appreciation to Dr. Pandey for his service during his tenure in Sri Lanka and underscored the timeliness and importance of the session topic in the context of the current global economic and geopolitical climate.

Addressing the gathering, Dr. Pandey observed that in a period marked by geopolitical and economic turbulence – reliability, trustworthiness, and secure supply chains have become increasingly important. He also highlighted the strong and growing economic partnership between India and Sri Lanka, noting several significant Indian investments in Sri Lanka, including those by ITC Limited and CEAT Limited, while indicating that further investments are expected in the future.

As a representative of the state, Aritha Wickramasinghe stated that it is the responsibility of the government to ensure that, even amid global turbulence, Sri Lanka remains stable in its policy direction, credible in its economic management, and consistent in its engagement with investors. He also emphasised the opportunities available to the Sri Lankan economy through deeper engagement with India’s fast-growing economy, noting that while India and Sri Lanka are neighbours, the relationship is regarded as one of family rather than mere proximity.

The session which included a highly engaging and interactive Q&A session with the audience, concluded with a productive exchange of views between the distinguished guests, speakers and participants, reaffirming the importance of continued dialogue and collaboration in strengthening investment and economic ties between Sri Lanka and India.

Business

Australia and Sri Lanka strengthen maritime security partnership

Published

17 hours ago

2026/06/13

Thilina Walpola

The Australian Border Force and Sri Lanka Coast Guard have launched Disi Rela 2026, marking the third consecutive year of the joint maritime security initiative aimed at strengthening maritime surveillance, operational capability, and public awareness across Sri Lanka’s coastal regions.

This year, Disi Rela 2026 expands its community engagement and public awareness activities to Sri Lanka’s Eastern Province, following successful activations conducted in the Western and Southern Provinces in previous years.

Meaning “keeping a watchful eye over the maritime environment,” Disi Rela reflects the continued partnership between Australia and Sri Lanka to strengthen maritime security, combat transnational maritime crime, and promote safer seas across the region. Through intelligence sharing, operational cooperation, advanced equipment support, and public awareness initiatives, both countries continue to work together to address threats including people smuggling, drug trafficking, illegal fishing, and other unlawful maritime activities.

Over the past three years, the Australian Government has supported Sri Lanka’s maritime security efforts under the Disi Rela initiative through the donation of 24 surveillance drones, three all-terrain vehicles (ATVs), three Stabicraft patrol vessels, and the establishment of a dedicated 24/7 hotline number — 106.

Further strengthening Sri Lanka Coast Guard’s operational capability, the Australian Government will donate an additional five all-terrain vehicles (ATVs) under Disi Rela 2026 to support coastal surveillance and rapid response operations.

In reflecting upon the continued partnership and shared commitment of both nations to safeguard Sri Lanka’s maritime boundaries and coastal communities, the Director General of the Sri Lanka Coast Guard,