Crews dredge near the container ship Ever Forward in efforts to free it after it ran aground off the coast near Pasadena, Md., Monday, March 21, 2022. The ship isn't blocking navigation in the channel, unlike last year's high-profile grounding in the Suez Canal of its sister vessel, the Ever Given, which disrupted the global supply chain for days. (AP Photo/Julio Cortez)
Dredging has begun to free a cargo ship stranded in the Chesapeake Bay for more than a week, the U.S. Coast Guard said Monday.
A salvage company began dredging around the 1,095-foot (334-meter) Ever Forward on Sunday and the work is expected to continue throughout the week, Coast Guard Petty Officer 3rd Class Breanna Centeno said in an email. The grounded vessel is stable, poses no pollution threat and isn't impacting Port of Baltimore operations, Centano said.
State and federal agencies have issued all permits, Maryland Port Administration Executive Director William P. Doyle tweeted. Doyle said dredged materials will be used to help rebuild an island off the Eastern Shore, Poplar Island, which has suffered from severe erosion.
The Ever Forward was headed from the Port of Baltimore to Norfolk, Virginia, on March 13 when it ran aground north of the Chesapeake Bay Bridge, the U.S. Coast Guard said. The ship operated by Taiwan-based Evergreen Marine Corp. became stranded outside the shipping channel and officials have said there were no reports of injuries, damage or pollution.
Evergreen said Friday that a plan to refloat the Ever Forward involves dredging the bay's muddy floor, releasing ballast to lighten the ship's load and using tugboats and the ship’s main engine to free the vessel.
The Coast Guard has said officials have not yet determined what caused the Ever Forward to run aground. The ship isn't blocking navigation in the channel, unlike last year's high-profile grounding in the Suez Canal of its sister vessel, the Ever Given, which disrupted the global supply chain for days.
Oracle soars as it cashes in on the AI boom, Plus: Starbucks shares continue to fall under its new CEO, and does anybody actually want a new iPhone Air?
Swedish buy now, pay later company Klarna is making its highly anticipated public debut on the New York Stock Exchange Wednesday, the latest in a run of high-profile initial public offerings this year. The offering priced at $40 Tuesday, above the forecasted range of $35 to $37 a share, valuing the company at more than $15 billion. The valuation easily makes Klarna one of the biggest IPOs so far in 2025, which has been one of the busier years for companies going public. Other popular IPOs so far this year include the design software company Figma and Circle Internet Group, which issues the USDC stablecoin..
Oracle co-founder Larry Ellison wrested the title of the world’s richest man from longtime holder Elon Musk early Wednesday as stock in his software giant rocketed more than a third in a stunning few minutes of trading. That is according to wealth tracker Bloomberg. A college dropout, the 81-year-old Ellison is now worth $393 billion, Bloomberg says, several billion more than Musk, who had been the world’s richest for four years. The switch in the ranking came after a blockbuster earnings report from Oracle. Forbes still has Musk as the richest, however, valuing his private businesses much higher.
