Written by by TYLER DURDEN at zerohedge.com
Here’s a live broadcast of the disaster area in Baltimore, Maryland.
Update (1508ET):
“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.
Flynn called the container ship ramming the 1.6-mile-long bridge mile bridge at the Port of Baltimore a “black swan” event.
Meanwhile, the White House and federal government agencies have been quick to declare this was not a terror attack.
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.
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.