High Shipping Costs Are Here to Stay, Says Bloomberg
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
Rear Adm. Steven Ratti, the Coast Guard 5th District commander, ordered a district formal investigation Thursday to determine the cause of the sinking of the Tall Ship Bounty, the three-masted sailing ship that sank Monday 90 miles southeast of Hatteras, N.C. during Hurricane Sandy. As we know the sinking resulted in the death of one crewmember, and the Captain who remains missing.
A district formal investigation consists of a Coast Guard investigating officer who will receive evidence and testimony using formal rules and procedures and is convened when the information to be derived has considerable regional significance, or may indicate vessel class problems or areas of technical importance.
The district formal investigation will probe every aspect of the accident and will determine as closely as possible:
The Investigating Officer, Cmdr. Kevin M. Carroll, is the chief of the Coast Guard 5th District Marine Inspections and Investigations Branch and will be assisted by investigating officers from Coast Guard Sector North Carolina in Wilmington, N.C.
Coast Guard investigations of marine casualties and accidents are for the purpose of taking appropriate measures for promoting safety of life and property and are not intended to fix civil or criminal responsibility. The investigation is expected to take several months to complete, the USCG says.
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