Firms in Fed’s Beige Book Fret Over Any Lengthy Baltimore Port Closure
(Bloomberg) — The closure of one of the East Coast’s busiest ports after the collapse of Baltimore’s Francis Scott Key Bridge has so far not led to broad price increases,...
The Indian Coast Guard has rescued 22 crew members from a sinking cargo ship off the coast of Mangalore, India.
The Times of India reports that the M/V Asian Express, a Maldives-flagged general cargo ship, had suffered an engine failure and was adrift for two days in severe weather about 200 miles west of Kochi in the Arabian Sea.
The Indian Coast Guard vessel, ICGS Varuna, responded and upon reaching the ship discovered it had a three to four meter vertical gash in the hull below the waterline, and she was taking on water. All 22 crew abandoned ship, but were quickly rescued by the ICGS Varuna as the Asian Express sank in the background.
The Times of India reports that the Asian Express was enroute from Pakistan to Male with a cargo of cement and sand. The 22 crew consisted of 18 Maldivians and 4 Indians.
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