Ticker: Bridge-busting ship expected in Virginia; Home sales fall for the 3rd month
A convoy of seven vessels is expected to sail the length of the Chesapeake Bay on Monday in what U.S. Coast Guard Cmdr. Baxter Smoak described as a “big milestone.”
The 984-foot Dali container ship has been in the Baltimore area since March 26, when it crashed into the Francis Scott Key Bridge, decimating the essential structure and killing six construction workers. The collapse took out an integral thoroughfare for vehicular traffic that had stood for nearly 50 years and the resulting debris blocked Baltimore’s shipping channel for over two months.
The vessel is expected to depart town Monday for the first time since the collapse, accompanied by three McAllister Towing tugboats, one Moran Towing tugboat, a Coast Guard vessel and a work boat from the Resolve Marine salvage company. The Coast Guard will enforce a 500-yard safety zone around the Dali.
After the Key Bridge collapse, the Dali sat in the shipping channel as crews worked to clear debris on and around the vessel. Authorities used explosives to blow up a piece of bridge that sat atop the Dali and refloated the vessel in late May.
US home sales fall for the 3rd straight month
Sales of previously occupied U.S. homes fell in May for the third straight month as rising mortgage rates and record-high prices discouraged many prospective homebuyers during what’s traditionally the housing market’s busiest period of the year.
Existing home sales fell 0.7% last month from April to a seasonally adjusted annual rate of 4.11 million, the National Association of Realtors said Friday.
Sales also fell 2.8% compared with May last year.
“I thought that we would actually see a recovery this spring —- we are not seeing it,” said Lawrence Yun, the NAR’s chief economist.