Spot Rate Slump Threatens to Sink Carrier Profits
Container spot freight rates on the main east-west deepsea trades witnessed more declines this week, as a combination of weak demand and excess supply of slot capacity prevailed.
The U.S. Coast Guard has recovered additional parts of the Titan submersible from the North Atlantic Ocean as part of its investigation into the accident. Some of the evidence collected includes what is presumed to be additional human remains.
The salvage mission, which was conducted under an existing agreement with U.S. Navy Supervisor of Salvage & Diving, was a follow-up to initial recovery operations following the loss of the Titan submersible earlier this year.
Investigators from the U.S. National Transportation Safety Board (NTSB) and the Transportation Safety Board of Canada joined the salvage mission as part of their respective safety investigations.
The recovered evidence, which includes the Titan’s titanium end cap, was successfully transferred to a U.S. port for cataloging and analysis.
The Coast Guard said the additional presumed human remains were carefully recovered from within Titan’s debris and transported for analysis.
The Coast Guard’s Marine Board of Investigation (MBI) is coordinating with NTSB and other international investigative agencies to schedule a joint evidence review of recovered Titan debris. The review will help determine the next steps for necessary forensic testing.
OceanGate Expedition’s Titan submersible suffered a catastrophic implosion approximately 1 hours and 45 minutes into a dive of the famous Titanic wreck back in June. Following an extensive multi-national search and rescue effort led by the U.S. Coast Guard, the wreckage of the submersible was located on the seafloor near the Titanic about 96 hours after it first submerged.
All five people on board, including OceanGate Expedition’s founder and CEO, are presumed dead.
The MBI will continue evidence analysis and witness interviews ahead of a public hearing regarding the tragedy.
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