Business
Baltimore bridge collapse: Divers find two bodies in submerged truck
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.
(BBC)
By Ifham Nizam
The intersection of climate change, energy security and global politics has never been more crucial, with geopolitical conflicts increasingly driven by competition over fossil fuels and critical minerals. Mayank Aggarwal, an energy and climate expert from The Reporters’ Collective, highlights this in his work, ‘Geopolitical Energy Chessboard’.
“Climate change and energy security are two of the most pressing global challenges, Aggarwal explains. “Urgent climate action is needed to mitigate its impact, but reducing fossil fuel use and transitioning to cleaner energy is a politically charged issue, he told The Island Financial Review.
His research highlights the complex web of energy politics, particularly in South Asia, where one in four people on earth reside. “South Asia is a major importer of fossil fuels and its energy security is critical. But the region also lacks a comprehensive dialogue framework to address climate and energy challenges collectively, he notes.
Aggarwal emphasizes that energy conflicts are not just national concerns but extend to the global stage. “From Libya and Iraq to Ukraine and Venezuela, conflicts over oil, gas, coal and critical minerals are shaping international relations. These disputes threaten economic stability and development goals worldwide.”
Despite the urgent need for a clean energy transition, political and economic interests delay global cooperation. “Countries are pulling out of climate agreements, favoring bilateral deals that often sideline developing nations. While global clean energy transition is essential, the geopolitical hurdles remain significant, Aggarwal warns.
He calls for a “Just Energy Transition” that ensures energy security and independence while engaging communities in decision-making. “We need regional cooperation, transparent negotiations for resource-rich areas and strong political will to drive climate and energy discussions at all levels, he concludes.
As the world grapples with escalating climate disasters and energy crises, Aggarwal’s insights highlight the urgent need for a balanced, just, and cooperative approach to energy politics.
The Securities and Exchange Commission (SEC) of Sri Lanka recently participated in the Capital Market Forum 2025, organized by the Department of Accountancy and the Department of Finance of the Faculty of Management and Finance at the University of Ruhuna, in collaboration with the Colombo Stock Exchange (CSE). This interactive knowledge-sharing forum aims to enhance financial literacy and promote capital market participation among undergraduates and academics.
A key highlight of the forum was the workshop on “Nurturing Future Investors: The Role of Capital Markets in Personal and Economic Growth,” which featured distinguished speakers, including Senior Professor Hareendra Dissabandara, Chairman of the SEC, and Tushara Jayaratne, Deputy Director General of the SEC.
Senior Professor Hareendra Dissabandara delivered a compelling lecture on the crucial role of capital markets in fostering economic development. He emphasized how capital markets facilitate efficient capital allocation and contribute to long-term economic stability. A key focus of his discussion was the significance of capital formation as a sustainable alternative to debt financing for government projects. He illustrated this by comparing the market capitalization of a leading Sri Lankan company with the costs of several major government initiatives.
Professor Dissabandara highlighted the historical reliance on borrowing for infrastructure development in Sri Lanka, leading to fiscal imbalances, high-interest burdens, and economic vulnerabilities. He underscored the importance of equity financing in business sustainability, emphasizing that an efficient financial market channels surplus funds from households, institutions, and foreign investors into businesses and government projects. He explained that for over 70 years, successive governments have relied on borrowing to fund infrastructure and development, causing fiscal imbalances, rising interest burdens, high taxation, and economic vulnerabilities. He also noted that corporate professionals often overlook the importance of equity financing for sustainable growth.
Business
SLTDA successfully hosts intra-governmental dialogue on joint facilitation for tourism investments
The Sri Lanka Tourism Development Authority (SLTDA) successfully organized an event focused on facilitating investments in the tourism industry. The event which was attended by the Minister of Tourism Vijitha Herath as well as the Deputy Minister of Tourism Prof. Ruwan Ranasinghe, also brought together Heads of key government ministries and agencies to discuss the importance of collaboration in streamlining the approval process for investors.
The primary objective of the event was to highlight the government’s role in directing and facilitating private sector investments in Sri Lanka’s tourism sector. Government officials from various authorities actively participated, addressing key areas essential for economic and employment growth. The discussions emphasized the crucial need to focus on enhancing the ease of doing business in Sri Lanka to increase the country’s attractiveness to global tourism investors, thereby improving investor experiences and boosting tourism sector growth through foreign direct investments (FDIs).
Minister of Tourism Minister in his speech stated “Collaboration is key to unlocking Sri Lanka’s tourism potential. By streamlining investment processes, we can drive growth, create jobs, and strengthen our position as a world-class destination”, while the Deputy Minister of Tourism said “A thriving tourism sector requires strong partnerships. Together, we can create an investor-friendly environment that benefits our economy and showcases Sri Lanka’s unique charm to the world”. The SLTDA Chairman explained the objectives of the event, while during the open forum discussion, speakers from other key agencies underscored the importance of reducing costs and delays in the approval processes, which would ultimately encourage investors to focus on project development and job creation.
By fostering greater cooperation among government agencies, the event was aimed to position Sri Lanka as an investor friendly, more attractive and an efficient destination for tourism investors. To support this cause, the SLTDA had already developed a Land Bank Management Information System (LBMIS) as a pioneering initiative for identifying, cataloging, and managing land resources to promote tourism investments for economic development.
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