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Global Research Fundraising: Stop the Pentagon’s Ides of March

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Here’s a live broadcast of the disaster area in Baltimore, Maryland.

“Can we take the idea that this [Baltimore bridge collapse] was a terrorist attack off the table … and absolutely we cannot do that,” President Trump’s former national security adviser (and retired lieutenant general) Michael Flynn told Alex Jones in an online interview.

REPORT: There were no vehicles traveling on the Francis Scott Key Bridge when it fell into the ocean thanks to heroic police officers who jumped into action.

It has now been confirmed that the only people on the bridge when it collapsed was a pothole repair crew.

A total of… pic.twitter.com/U6PZPO8SDG

— Collin Rugg (@CollinRugg) March 26, 2024

Flynn called the container ship ramming the 1.6-mile-long bridge mile bridge at the Port of Baltimore a “black swan” event.

EXCLUSIVE: General Flynn Calls Baltimore Barge Disaster A Black Swan Event pic.twitter.com/NfDS5LUMBA

— Alex Jones (@RealAlexJones) March 26, 2024

Meanwhile, the White House and federal government agencies have been quick to declare this was not a terror attack.

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Update (1423ET):

Maritime job placement company BalticShipping shows the captain of the container ship is a Ukranian.

Update (1356ET):

Bloomberg Intelligence reports:

Reinsurers Could Bear Brunt of Baltimore Bridge Collapse Claims

The bulk of claims from the March 26 Baltimore bridge collapse will likely fall on reinsurers. The ship has about $3 billion of reinsurance coverage over a $100 million retention. Chubb is reported to be the lead insurer on the bridge’s property cover but might recover losses paid. We note it’s still early, and this will be a complex loss.

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Update (1229ET):

President Biden is expected to address the press at 1230 PM EST regarding the Francis Scott Key Bridge collapse at the Port of Baltimore. At 0130 AM EST, a container ship lost propulsion and collided with the 1.6-mile-long bridge, leading to an instant collapse.

The current issue revolves around an emerging disruption in mid-Atlantic supply chains. The major East Coast port is now paralyzed due to the mangled bridge blocking the only shipping lane in and out of the harbor.

Bloomberg reports that the US automotive supply chain will be disrupted. Data shows that Mazda Motor and Mercedes Benz, Subaru of America, Mitsubishi Motors of North America, and Volkswagen Group have the most exposure to the port.

Source: Bloomberg

 

“It’s a large port with a lot of flow through it, so it’s going to have an impact,” John Lawler, Ford Motor Co.’s chief financial officer, said Tuesday on Bloomberg TV. 

Lawler continued, “We’ll work on the workarounds. We’ll have to divert parts to other ports along the East Coast or elsewhere in the country.”

Earlier, Consol Energy shares plunged nearly 10%, the most since October, as the bridge collapse will affect its massive coal terminal, which is served by CSX trains. 

A major sugar refinery owned by American Sugar Refining Inc. warned its Domino Sugar refinery only has six to eight weeks of raw sugar supplies as the blockage affects ships moving in and out of the port. 

Major cruise ship terminal

The supply chain snarls have sent major logistics companies scrambling across the US East Coast on Tuesday afternoon. 

“Our first priority is engaging clients to make plans for containers that were originally routed to Baltimore that will be discharged at other ports on the Eastern Seaboard,” Paul Brashier, vice president of drayage and intermodal for ITS Logistics, told CNBC. 

“These diverted volumes will impact the ports of New York/New Jersey, Norfolk and the Southeast and we have to prepare trucking and transload capacity to get that freight to its intended network,” Brashier said.

Goetz Alebrand, senior vice president and head of ocean freight for the Americas at DHL Global Forwarding, told CNBC:

“The immediate impact is with the cargo on board and its accessibility. Other planned shipments through Baltimore will likely be rerouted, potentially increasing cargo flow to New York, Norfolk, and nearby ports.

“Bulk and car carriers reliant on Baltimore must assess operations in the event of a prolonged closure.”

According to the shipping journal Lloyd’s List, Baltimore is the eleventh-largest port in the nation, making an average of 207 port calls per month. 

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Update (1018ET):

An unclassified report from the DHS National Operations Center says the container ship “lost propulsion” before it rammed the Francis Scott Key Bridge. 

Here’s a video of the incident:

Video seems to show repeated power losses on ship just before it destroyed Francis Scott Key Bridge.pic.twitter.com/REoGCL9zcu

— Tom Fitton (@TomFitton) March 26, 2024

Update (0935ET):

Bloomberg’s Brendan Murray explains how the collapsed bridge blocking the only shipping lane in and out of the Port of Baltimore is about to spark a supply chain crisis across the Mid-Atlantic: 

An economic disruption along the US East Coast is unfolding with potentially tragic human consequences after a container ship struck the Francis Scott Key Bridge in Baltimore, sending nearly the entire roadway structure crumbling into the water.

The immediate priority of the rescuers is finding people who may have been on the bridge either working or driving across. The ship, the Singapore-registered Dali, was operated by charter company Synergy Group and is time chartered by Maersk carrying Maersk customers’ cargo.

Of secondary concern in the days ahead will be tough questions about the effect on business, commuters, holiday travelers and the economy across the region.

The Port of Baltimore — the biggest handler of US imports and exports of cars and light trucks — looks to be out of commission indefinitely. The resulting bottleneck could accelerate a shift of goods through West Coast ports. Another crucial question: Which other ports have spare capacity to handle the Ro-Ro vessels that carry automobiles if Baltimore is closed for an extended period.

And it begins:

One very big logistical complication in the Baltimore bridge collapse is that the Francis Scott Key Bridge was the main route for hazardous materials (which aren't allowed to be transported through the tunnels) pic.twitter.com/dj2vR7OVdL

— Tracy Alloway (@tracyalloway) March 26, 2024

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Update (0814 ET):

ABC News reports the Singapore-flagged “Dali” container ship “lost propulsion” as it left the Port of Baltimore just before it rammed the Francis Scott Key Bridge. 

“The vessel notified MD Department of Transportation (MDOT) that they had lost control of the vessel and a collision with the bridge was possible,” ABC quoted the US Cybersecurity and Infrastructure Security Agency as saying, adding, “The vessel struck the bridge causing a complete collapse.”

Bloomberg’s Josh Wingrove says, “Authorities are heavily downplaying the risk of foul play here.” 

Authorities are heavily downplaying the risk of foul play here.

"We don't see anything that relates to that at this time. It's an open investigation but there's nothing that points to that, " Wiedefeld said.

No indication as of now of "nefarious intent," per the White House.

— Josh Wingrove (@josh_wingrove) March 26, 2024

Meanwhile, some X users are saying: