Generic Hero BannerGeneric Hero Banner
Latest market news

Crane barge arriving at Baltimore bridge tonight

  • : Agriculture, Coal, Coking coal, Fertilizers, Freight, Metals, Oil products, Petroleum coke
  • 24/03/28

The first major piece of equipment capable of beginning to clear the blocked Port of Baltimore, Maryland, is expected to arrive onsite tonight.

The Chesapeake 1000 crane barge, capable of lifting 1,000 short tons with its a 231ft-long boom, is expected to arrive at the site of the collapsed Francis Scott Key Bridge near Baltimore at 11pm ET on 28 March, the US Coast Guard (USCG) told Argus.

Both the crane and the tug pulling it, Atlantic Enterprise, are owned by Donjon Marine. It is currently the only crane on route to the collapsed bridge, the USCG said.

There is no official timetable for the reopening of the port after the Interstate 695 highway bridge over the Patapsco River was hit in the early hours of 26 March by a container ship and collapsed, with the debris and ship blocking the waterway.

The operator of the ship, Maersk, has contracted with marine salvage company Resolve Marine to refloat the vessel and remove it from the area, according to the USCG. It is not clear who has contracted for the Chesapeake 1000.

Despite the inbound crane, it could take weeks or even months to clear debris and reopen the waterway under the collapsed bridge according to a engineering professor at the nearby Johns Hopkins University.


Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

25/11/06

US October layoff plans highest since 2003: Challenger

US October layoff plans highest since 2003: Challenger

Houston, 6 November (Argus) — US-based employers in October announced the highest level of monthly job cuts since 2003, according to job outplacement firm Challenger, Gray and Christmas. Employers announced 153,074 job cuts in October due to slowing consumer and corporate spending, adoption of artificial intelligence (AI), belt-tightening and hiring freezes tied to the federal government shut down. The October announcements are up by more than 180pc from September job cuts announcements as well as October 2024 levels. "This is the highest total for October in over 20 years, and the highest total for a single month in the fourth quarter since 2008," said Challenger. "Like in 2003, a disruptive technology is changing the landscape. At a time when job creation is at its lowest point in years, the optics of announcing layoffs in the fourth quarter are particularly unfavorable." Federal blackout, slowing job creation The monthly Challenger report comes as federal government data has largely been unavailable due to the shutdown, leaving the Federal Reserve, government and corporate planners mainly with private data to rely on for their hiring and investment planning. The last official US employment report before the shutdown showed only 22,000 jobs added in August, with a revision showing 13,000 jobs lost in July. Job growth averaged 128,000/month for the 12 months through August. Year-to-date October announced jobs cuts reported by Challenger totaled nearly 2mn, the highest for the period since 2020, when 2.3mn cuts were announced in the first 10 months of the year, when Covid-19 struck and shut down large swaths of the economy. Year-to-date October hiring plans dropped to 488,077 hires from 750,333 announced during the same period last year, according to Challenger. It is the lowest year-to-date October total since 2011. The leading reason for job cuts so far in 2025 was attributed to the "DOGE impact," a reference to the Elon Musk-led Department of Government Efficiency (DOGE), cited for 293,753 planned layoffs, including direct reductions to the federal workforce and its contractors. DOGE Downstream Impacts, reflecting the loss of federal funding to private and non-profit entities, accounted for 20,976 planned layoffs. "Like in 2003, a disruptive technology is changing the landscape," said Challenger. Cost cutting was the top reason employers cited for layoffs — 50,437 in October alone. AI was the second-most cited monthly factor, leading to 31,039 cuts as companies restructure and automate, with 48,414 cited year to date. Market and economic conditions accounted for another 21,104 cuts in October, bringing the year to date total to 229,331. By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Airports named for planned US flight cancellations


25/11/06
25/11/06

Airports named for planned US flight cancellations

Houston, 6 November (Argus) — Forty North American airports will see traffic cut by 10pc starting Friday if no deal is reached to reopen the federal government, US transportation secretary Sean Duffy said today as the shutdown hit its 37th day. Airports that would see flights cancelled include Hartsfield-Jackson Atlanta International, George Bush Houston Intercontinental, Los Angeles International Airport, Newark Liberty International Airport and Ontario International Airport in Canada ( see table ). Since 1 November, total flight cancellations within, to and out of US airports totaled more than 870 flights as of 11:20 ET today, while more than 25,900 flights have been delayed, according to flight-tracking company FlightAware. The count includes mechanical, weather, and other incidents. United Airlines said today that its long-haul international and hub-to-hub flights will not be impacted by the planned traffic cancellations, but rather regional and domestic mainline flights that are not between hub airports will be the focus of cancellations. Air traffic controllers and Transportation Security Administration (TSA) agents have been working without pay since the partial US government shutdown started on 1 October. Staffing shortages prompted the Federal Aviation Administration (FAA) to periodically issue temporary ground stops at some airports because of a lack of air traffic controllers, while TSA staff shortages led to hours-long security check-ins. Even before the shutdown the FAA has been far short of its targeted number of air traffic control employees. Controllers have seen a 3,800 worker shortage during the shutdown, National Air Traffic Controllers Association president Nick Daniels said late last month. Earlier this week Duffy blamed the shutdown on Democrats, warning if they did not vote to reopen the government within a week, the country would see "massive cancellations." "We are going to proactively make decisions to keep the airspace safe," Duffy said in a press conference on Wednesday. By Hunter Fite US/Canada airports subject to 10pc traffic cuts Anchorage International Detroit Metropolitan Wayne County Los Angeles International Portland International, Oregon Hartsfield-Jackson Atlanta International Newark Liberty International New York LaGuardia Philadelphia International Boston Logan International Fort Lauderdale/Hollywood International Orlando International Phoenix Sky Harbor International Baltimore/Washington International Honolulu International Chicago Midway San Diego International Charlotte Douglas International Houston Hobby Memphis International Louisville International Cincinnati/Northern Kentucky International Washington Dulles International Miami International Seattle/Tacoma International Dallas Love George Bush Houston Intercontinental Minneapolis/St Paul International San Francisco International Ronald Reagan Washington National Indianapolis International Oakland International Salt Lake City International Denver International New York John F Kennedy International Ontario International Teterboro Dallas/Fort Worth International Las Vegas Harry Reid International Chicago O`Hare International Tampa International US transportation secretary Sean Duffy Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

US to cut 10pc of flights at some airports: Duffy


25/11/05
25/11/05

US to cut 10pc of flights at some airports: Duffy

Houston, 5 November (Argus) — The US will begin to cut airline traffic by 10pc at high volume airports starting this Friday if no deal is reached to reopen the federal government, US transportation secretary Sean Duffy said today as the shutdown hit its 36th day. During a press conference Duffy said that the 10pc cut in airline traffic will be applied to 40 different airports, which will be named tomorrow. The Federal Aviation Administration (FAA) will hold meetings with airlines and airports tonight to collaborate on the schedule reductions. Air traffic controllers and Transportation Security Administration (TSA) agents have been working without pay since the partial US government shutdown started on 1 October. Staffing shortages prompted the FAA to periodically issue temporary ground stops at some airports because of a lack of air traffic controllers, while TSA staff shortages led to hours-long security check-ins. Even before the shutdown the FAA has been far short of its targeted number of air traffic control employees. Controllers have seen a 3,800 worker shortage during the shutdown, National Air Traffic Controllers Association president Nick Daniels said late last month. Earlier this week Duffy blamed the shutdown on Democrats, warning if they did not vote to reopen the government within a week, the country would see "massive cancellations." Since 1 November, total flight cancellations within, to and out of US airports totaled more than 795 flights as of 4pm ET today, while more than 21,600 flights have been delayed, according to flight-tracking company FlightAware. The count includes mechanical, weather, and other incidents. "We are going to proactively make decisions to keep the airspace safe," Duffy said. If the pressures continue to build through the shutdown, additional measures will be necessary, FAA administrator Bryan Bedford said. By Hunter Fite Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Recent deep-sea and short-sea cfr Turkey scrap deals


25/11/05
25/11/05

Recent deep-sea and short-sea cfr Turkey scrap deals

London, 5 November (Argus) — A summary of the most recent deep-sea and short-sea cfr Turkey ferrous scrap deals seen by Argus. Ferrous scrap short-sea trades (average composition price, cif Marmara) Date Volume, t Price, $ Shipment Buyer Seller Composition Index relevant 31-Oct 3,000 346 (90:10) November Izmir Romania HMS 1/2 90:10 Y 21-Oct 5,000 333 (80:20) October Izmir Romania HMS 1/2 80:20 Y Ferrous scrap deep-sea trades (average composition price, cfr Turkey) Date Volume, t Price, $ Shipment Buyer Seller Composition Index relevant 5-Nov 30,000 355.5 (80:20) December Iskenderun USA HMS 1/2 80:20, bonus Y 31-Oct 15,000 349 (80:20) November/December Marmara Cont. Europe HMS 1/2 80:20 Y 31-Oct 10,000 350 (80:20) December Marmara Cont. Europe HMS 1/2 80:20 Y 31-Oct 30,000 345.50 (80:20) December Marmara Cont. Europe HMS 1/2 80:20 Y 23-Oct 30,000 348 (80:20) November/December Marmara Baltics/Scan HMS 1/2 80:20 Y 23-Oct 30,000 348 (80:20) November/December Izmir Baltics/Scan HMS 1/2 80:20 Y Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

US services sector returns to expansion in Oct: ISM


25/11/05
25/11/05

US services sector returns to expansion in Oct: ISM

Houston, 5 November (Argus) — The US services sector renewed its expansion in October as output and new orders grew while the labor market showed signs of easing contraction, signaling the overall economy is largely weathering the government shutdown and the administration's tariff wars. The services purchasing managers' index (PMI) rose to 52.4 in October from 50 in September, the Institute for Supply Management (ISM) reported Wednesday. It marked an eighth month of expansion this year for the largest segment of the economy and the strongest growth since February. The threshold between growth and contraction is 50. "The stronger reading in October provides some support for the notion that the government shutdown is having a limited impact on the broader economy," Pantheon Macroeconomics said in a note. "We retain our view that a weak labor market and resulting downward pressure on core services inflation mean further Fed easing is likely in the coming quarters." The business activity/production index rose to 54.3 in October from 49.9 in September. The new orders index rose to 56.2 last month from 50.4. New export orders rose to 47.8, while imports slid to 43.7, both in contraction. The employment index was at 48.2, showing an easing rate of contraction from 47.2 the prior month. The survey from the private ISM is one of the few economic surveys or reports that provide a window into the state of the US economy since most government data went dark with the beginning of the partial government shutdown beginning 1 October. ISM's factory survey, reported on 3 November, showed manufacturing at 48.7, an eighth month of contraction. Wednesday's services prices index rose to 70 in October, the first time at or above that threshold since October 2022. "Tariffs likely are raising costs for some services companies, but imported goods are a relatively small share of total costs for most," Pantheon Macroeconomics said. Survey respondents continued "to mention the impact of tariffs on prices paid," ISM said. "There was no indication of widespread layoffs or reductions in force, but the federal government shutdown was mentioned several times as impacting business activity and generating concerns for future layoffs." A separate report Wednesday from ADP payroll services showed the US added 42,000 private sector jobs in October, the first gains since July, as initially reported. By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Generic Hero Banner

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more