who owns motor yacht ocean victory

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OCEAN VICTORY

OCEAN VICTORY, a 140.0 m Motor Yacht built in Italy and delivered in 2014, is the flagship of Fincantieri .

Her top speed is 25.0 kn and her cruising speed is 18.0 kn and her power comes from two engines. She can accommodate up to 26 guests in 13 staterooms, with 50 crew members. She has a gross tonnage of 8506.0 GT and a 20.0 m beam.

She was designed by Espen Oeino International , who also completed the naval architecture. Espen Oeino International has designed 67 yachts and created the naval architecture for 17 yachts for yachts above 24 metres.

Her interior was designed by Alberto Pinto , who has 25 other superyacht interiors designed in the BOAT Pro database - she is built with a Teak deck, a Steel hull, and Aluminium superstructure.

OCEAN VICTORY is in the top 5% by LOA in the world. She is one of 70 motor yachts longer than 100m, and, compared to similarly sized motor yachts, her cruising speed is 1.95 kn above the average, her top speed 5.14 kn above the average, and her volume 1293.31 GT above the average.

OCEAN VICTORY is registered under the Cayman Islands flag, the 2nd most popular flag state for superyachts with a total of 1368 yachts registered

Specifications

• Name: OCEAN VICTORY
• Yacht Type: Motor Yacht
• Yacht Subtype: Displacement
• Builder: Fincantieri
• Naval Architect: Espen Oeino International
• Exterior Designer: Espen Oeino International
• Interior Designer: Alberto Pinto
• Refits: 2019-09-29

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OCEAN VICTORY Yacht – Yacht of Dreams $300M Superyacht

OCEAN VICTORY yacht was built in Italy by the Fincantieri shipyard and delivered to her owner in 2014.

She ranks 12th on the list of the world’s largest yachts, with a length of 140 meters (459 ft).

Like many other superyachts in her size category, she currently sails under the Cayman Islands flag. 

OCEAN VICTORY yacht interior

The OCEAN VICTORY yacht was designed by Alberto Pinto, a well-known photographer and interior designer from Paris, France. Onboard there is room for 26 guests in 13 generously designed suites.

A crew of 56 is responsible for the service, maintenance, and maneuvering of OCEAN VICTORY.

In addition to a spa, there is also a beauty salon, a fitness room, and an onboard cinema available for the enjoyment of the guests.

The elevator system allows guests and crew to move quickly and comfortably between the seven decks.

Specifications

The OCEAN VICTORY yacht is powered by two MTU marine engines with nearly 7,000 hp, enabling the yacht to reach top speeds of up to 25 knots. At a cruising speed of 18 knots, her range is 5,000 nautical miles.

Thanks to her state-of-the-art at-anchor stabilizers, OCEAN VICTORY offers comfortable cruising even during rough seas.

Her hull is made of steel, her superstructure of aluminum, and her many decks were constructed from more than 2,000 square meters of high-end teak.

The exterior of the superyacht was created by the world-renowned designer and architect Espen Øino, who is based in Monaco.

OCEAN VICTORY has a helipad with a lift that allows aircraft to be transported to an internal helicopter hangar.

There is also a floodable dock on board that can hold vessels up to 14 meters long.

The yacht has a spacious beach club, an underwater observation room, and six swimming pools distributed across the different decks.

Guest entertainment onboard the OCEAN VICTORY is ensured in the form of jet skis, water skis, sea bobs, and snorkeling equipment which are available for the guests at any time. 

The owner of the OCEAN VICTORY paid an estimated price of US $300 million for this luxury yacht. The annual running costs amount to US $25 – 30 million, depending on use.

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Ocean Victory

Motor Yacht

Delivered in 2014, Ocean Victory, 140 metres long, is the largest yacht ever built in Italy and one of the largest in the world.

She was developed on a unique concept by Espen Oeino and interior designer Alberto Pinto. She has a certified helideck with lifting platform and internal heli hangar, floodable tender dock, ten large shell doors, one underwater observation room, six pools and spa area over 300m2.

Ocean Victory testifies to Italy’s highest expression of technology and fascination worldwide. She is positioned on the top market segment in terms of quality and performance and is characterised by complexity, high-technology content, innovation and extreme care to details in the interior and exterior design.

The ship was built to meet PYC (Passenger Yacht Code) under the supervision of the Lloyd’s Register of Shipping.

She has a total of 14 guest and 28 crew cabins, 7 decks and a gross tonnage of 8,505 GT.

Ocean Victory is the finest expression of quality, technical ability and industry standards, with a perfect functional and design integration of elements. The pinnacle of Fincantieri’s Technology of Beauty.

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• Naval Architect Espen Oeino View profile
• Exterior Designer Espen Oeino View profile

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Ocean Victory

When delivered in 2014, fincantieri yachts’ 459-foot ocean victory was the largest yacht ever built in an italian shipyard and is currently ranked ninth in the world (on most lists). designed by monaco’s naval architect espen oeino and the late interior specialist alberto pinto, the monumental mariner features six swimming pools; an undersea observation room; […].

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Ocean Victory.

Photo: Trevor Coppock / TheYachtPhoto.com

When delivered in 2014, Fincantieri Yachts’ 459-foot Ocean Victory was the largest yacht ever built in an Italian shipyard and is currently ranked ninth in the world (on most lists). Designed by Monaco’s naval architect Espen Oeino and the late interior specialist Alberto Pinto, the monumental mariner features six swimming pools; an undersea observation room; a 3,229-square-foot spa facility; a heli-deck and internal heli-hanger (with lifting platform); and a litany of luxurious amenities that permeate all seven decks. Its owner is believed to be the Russian business baron Viktor Rashnikov. ( fincantieriyachts.it )

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• Ocean Victory

Ocean Victory Yacht

Motor Yacht Ocean Victory

Delivered in 2014, ocean victory, 140 metres long, is the largest yacht ever built in italy and one of the largest in the world..

She was developed on a unique concept by Espen Oeino and interior designer Alberto Pinto. She has a certified helideck with lifting platform and internal heli hangar, floodable tender dock, ten large shell doors, one underwater observation room, six pools and spa area over 300m2.

Ocean Victory testifies to Italy’s highest expression of technology and fascination worldwide. She is positioned on the top market segment in terms of quality and performance and is characterised by complexity, high-technology content, innovation and extreme care to details in the interior and exterior design.

The ship was built to meet PYC (Passenger Yacht Code) under the supervision of the Lloyd’s Register of Shipping.

She has a total of 14 guest and 28 crew cabins, 7 decks and a gross tonnage of 8,505 GT.

Ocean Victory is the finest expression of quality, technical ability and industry standards, with a perfect functional and design integration of elements. The pinnacle of Fincantieri’s Technology of Beauty.

Ocean Victory is currently not available for Charter on Superyachts.com. Click here to view similar Yachts Available for Charter.

• More Details:
• Specifications

Builder: Fincantieri Yachts

Exterior Designer: Espen Oeino

Naval Architect: Espen Oeino

Interior Designer: Alberto Pinto

M/Y Ocean Victory

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Ocean Victory News

The largest yacht ever built in Italy and one of the ten largest in the..

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Ocean Victory

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Is the Hype of Ocean Victory Yacht in Dubai Real?

Designed by Espen Øino, the Ocean Victory is a superyacht produced by Fincantieri. This 140 meter long yacht was among the top ten largest yachts in the world. Anything that exhibits luxury, wealth and style, attracts the attention of Dubai’s richest. To give you a detailed insight into this multi-million dollar yacht, here’s everything we have for you.

What makes the Ocean Victory yacht so unique?

Built in Italy by one of the most reputed shipbuilders in the world, Fincantieri , the Ocean Victory, as the name suggests showcases sheer prominence in the sea. It is recognized for its state-of-the-art marine technology, accompanied by a host of luxury features that makes this superyacht one-of-a-kind.

Yacht Ocean Victory has gained so much popularity since its launch, inspiring the design of several other yachts thereafter. The Ocean Victory is a private motor yacht. Therefore, if you are looking to charter a luxury yacht similar to that of the Ocean Victory, you can compare it with the ones available in the UAE. With our yacht rental in Dubai services, you will find a yacht that matches your requirements.

Ocean Victory yacht interior

The yacht has 6 decks, swimming pools, 14 suites, and a crew of 52 members, with a total guest capacity of 28. The exterior of the yacht as mentioned above was designed by Espen Øino International, with the interior being a collaborative effort of Studio Laura Sessa and Alberto Pinto. The yacht’s furnishing are a blend of classic inspiration and modern aesthetics. Guests can enjoy state of the art amenities and luxury hospitality onboard.

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Features, dimensions, and specifications of the Ocean Victory superyacht

Ocean Victory superyacht offers a ton of premium features, and is vastly spacious, which makes it the perfect yacht for long-range cruises. Here are all the features, specifications and dimensions of this sea behemoth.

Dimensions of the yacht

The above mentioned proportions give you a clear idea of the enormous stance of this superyacht. Moving forward, let us look at some of the specifications and materials used in building the Ocean Victory.

Materials and interior specs of the Ocean Victory yacht

“One of the most beautiful yachts I have seen till date, the Ocean Victory is truly a work of modern art combined with classic design cues.”

Now that we have seen the specifications of the Ocean Victory. Let’s move on towards the engine that powers this massive superyacht, its capability and performance.

Engine performance and other details of the Ocean Victory superyacht

With 8 engines, the power output produced by this superyacht is colossal. Perhaps, due to its massive structure the speed of the yacht is reduced to 19.4 knots max. speed. Let’s take a look at some of the other details pertaining to the Ocean Victory.

Who owns Ocean Victory yacht?

Russian billionaire and business tycoon Viktor Rashnikov is known as the owner of the Ocean Victory since 2018. He is the chairman of Magnitogorsk Iron and Steel Works. As of February 2019 Rashnikov was known to have an estimated net worth of $9.1 billion.

“When you own a multi-million dollar yacht, you automatically come in the category of the most successful billionaires.”

The Ocean Victory yacht was last valued at $300 million dollars, making it one of the most expensive yachts in the world. According to a report published by Forbes in 2022, Viktor Rashnikov is still known as the Ocean Victory yacht owner.

Ocean Victory yacht price

As a yacht that is 459 ft in size, the price of the Ocean Victory yacht is estimated to be $294 million. The value of this yacht was confirmed and set from Cayman islands.

Speculations and rumors about its arrival in Dubai

Early 2021, a video showcasing the Ocean Victory docked close to the La Mer beach in Dubai was circulated all over the internet. Yachting enthusiasts were stunned to see this mega yacht arrive in Dubai, speculating about its arrival and the reasoning behind it.

One of the reasons which led to the speculation about this superyacht was due to its oligarch owner. Viktor Rashnikov was placed under several sanctions by the United State of America, the European Union, and the United Kingdom. This was a result of the Russia-Ukraine conflict. Furthermore, in September 2022, Hungary voted for Rashnikov to be dropped off the sanctions list.

The sanction placed on the owner of the yacht was the primary cause for all the speculations about it. Statements like; “Rashnikov has brought the yacht to Dubai to protect it from the war in Russia,” were made across several online platforms. Perhaps, there are no official statements made by the billionaire himself to confirm the situation.

Location of the Ocean Victory – Where is this superyacht now?

The Ocean Victory was last spotted in the Persian Gulf (25.26648 N / 55.28418 E). However, since then Global Marine Tracking Systems have not been able to track its current location. It is said that the transponders of the yacht have been intentionally shut down to make its location unavailable to the authorities.

Ocean Victory is not the only yacht charter option available during the season in Dubai, learn more about the Fairline yacht rental  options to try out.

Ocean Victory, a superyacht known for the good and the bad

What’s essentially one of the most stunning superyachts, Ocean Victory is recognized for its brilliant design but is popular in Dubai for all the wrong reasons. The speculations as we discussed above brought awareness of this particular superyacht, in the yachting community. Nevertheless, when you consider the Ocean Victory yacht at its face value, it’s still a stunning piece of engineering that shows exceptional craftsmanship both on the exterior and interior.

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Billionaire fights to dock his boat on water behind his house. His 164-foot boat, that is.

The love of the water, and a mega-yacht to enjoy it, is putting one resident at odds with village of north palm beach leaders..

For some people, the ultimate Florida lifestyle is a waterfront house , a private dock and a boat parked next to it. But what if that boat is a mega-yacht , and the mega-yacht stretches 164 feet?

That's the conundrum facing the Village of North Palm Beach.

This tiny community in northern Palm Beach County, with only 13,000 full-time residents, has an identity so tied to the water that a ship's steering wheel is the village's emblem.

But it's that love of the water that is putting one resident at odds with village leaders.

For the past several years, homeowner Michael Bozutto has been battling the village for the right to park his 164-foot Westport, dubbed Honey, behind a home he owns at 932 Shore Drive.

The house, built in 1961, is a one-story, ranch-style property with three bedrooms on a half-acre lot. Bozzuto paid $840,247 for the house in 2014, according to Palm Beach County property records.

Lawsuit rooted in dispute over where to dock mega-yacht

What makes this plain house special is its location. It's on a rare corner bordered on the north and east by navigable waters that provide access to the Atlantic Ocean via the Lake Worth Inlet. The east-facing dock is large enough to accommodate Bozzuto's motor yacht.

Since Bozutto bought Honey for an undisclosed sum a decade ago, he mostly has parked it at the Old Port Cove Marina, near Tiger Woods' 155-foot showy mega-yacht, ironically dubbed Privacy.

More recently, Bozzuto has wanted to park Honey alongside his Shore Drive house, one of four houses he owns in the village. While Bozzuto keeps some personal property at the Shore Drive house, he lives at a house he owns at Harbour Isles Court.

Village officials warned Bozzuto he can't park Honey at 932 Shore Drive because boats can only be parked on docks behind houses that are occupied by the homeowner.

But village rules do not define the word "occupied." For instance, the rules do not state that occupied means the house is a residence where the owner lives. Village rules also contain no restrictions on the size of boats that can be kept at private docks.

After years of pushing back against what he believes are fuzzy rules, Bozzuto in March filed a lawsuit against the village.

More: Cannonsport Marina sells for $58.5 million in big deal for tiny Palm Beach Shores

He alleged the municipality is illegally depriving him of his property rights because nothing in the village code prevents him from mooring Honey at his house. He is asking a Palm Beach County Circuit Court judge to rule that he has a constitutional right to dock Honey there.

Gregory Coleman, Bozzuto's West Palm Beach attorney, said the village has plenty of waterfront homes with yachts parked behind them. But Coleman said the village is illegally blocking Bozzuto from docking Honey at his house because the village is bending to pressure from a handful of neighbors who think the boat is too big.

The selective enforcement is wrong, said Coleman, a former president of the Florida Bar.

"He's a very under-the-radar guy who doesn't cause anybody any problems," Coleman said of Bozzuto. "He pays his property taxes, and he wants to be left alone by the village of North Palm Beach. Unfortunately, they are singling Mike out."

Neither Leonard Rubin, the village's longtime attorney, nor Village Manager Chuck Huff responded to requests for comment.

Eric Stettin, a Fort Lauderdale-based attorney who is representing the village in the Bozzuto lawsuit, said he could not comment on pending litigation.

What good is a man's castle if he can't have a boat in his moat?

Coleman's lawsuit describes the conflict as a battle over property rights, but real estate and yachting experts say it's also a sign of the times.

As wealthy new residents pour into the county wanting all the perks of the Sunshine State, they want a boat to go along with their waterfront homes and golf club memberships. Some longtime residents fear Palm Beach County is turning into a playground for billionaires, to the detriment of everyday people who also want to live in sunshine and peace.

This conflict between Old Florida and new money is an ever-present tension, but even seasoned yacht brokers say they've never seen interest in luxury yachts quite as strong as it is now.

More: Illegal boat slips are popping near Palm Beach Gardens. Residents want regulators to act

"What we've seen in the marketplace right after COVID in the yachting industry, and especially the superyacht segment, is the most incredible growth ever seen in the history of yachting to date," said Shannon McCoy, a luxury yacht advisor and broker with Worth Avenue Yachts in Palm Beach.

"A lot of people are moving here with serious money," added Pascal Savoy, U.S. managing director of Camper & Nicholsons International yacht brokers in Fort Lauderdale.

While in the past Palm Beach County was not considered lively enough for some buyers, Savoy said the county's growing sophistication is putting it on the map in a way never seen before.

"It's a mini-Monaco for us," Savoy said.

Prices for mega-yachts can range from $18 million to $60 million, or many times that, for the largest and most decked-out mega-yachts, Savoy said.

While some yachts can be glitzy, a 164-foot Westport is considered a more low-profile boat, Savoy added.

Michael Bozzuto's interests: Houses, boats and philanthropy

Bozzuto is no newcomer to North Palm Beach. He's been a resident of the village for 20 years.

He is the billionaire owner of a family-owned supermarket wholesaler in Connecticut, and an investor and philanthropist who likes to collect houses and yachts, Coleman said.

In addition to the four North Palm Beach houses and several yachts he owns, Bozzuto in February paid a whopping $31.1 million for a house in the Town of Palm Beach Shores. The house, which has two docks, sits just north of the Palm Beach/Lake Worth Inlet.

Twin City Mall: North Palm clears way for redevelopment, taller buildings at landmark site

Coleman said there is plenty of room for other boaters to navigate the waterway when Honey is parked at the Shore Drive house in North Palm Beach. And while other people may not have as large a yacht, there are other sizeable yachts parked on docks behind other North Palm Beach homes, too, he added.

At a 2017 village council meeting, then-Mayor Darryl Aubrey commented on the issue, according to the complaint.

"When I didn't live here full time, I had a boat sitting in my dock, I was gone nine months of the year. I don't see how you can say that someone has to be in a residence year-round, seems to be some interpretation of occupant, there would be an enormous number of violations," Aubrey said.

Another member of the village council asked if the village had a definition now, the complaint said.

Rubin, the village attorney, replied: "No, we don't," according to the lawsuit.

Show me the money? Here it is: West Palm and Palm Beach rank in top 5 as cities with fastest growth in millionaires

Palm Beach County's waterways run deep, and they are popular

The yacht docking dispute is particularly timely, given the scarcity of dock space for boats of all sizes.

The most convenient place to park a boat is on the water behind a house, brokers say. But not every waterway or channel can accommodate the draft, or depth, of a mega-yacht.

However, the dock behind Bozzuto's Shore Drive house can.

Not only is the Westport not known for its deep hulls, but the waterway also is typical of northern Palm Beach County, which boasts deep water and easy access to the ocean via the Lake Worth Inlet, said Coleman, a lifelong boater.

"In Palm Beach County, they have deeper water, and it allows people to have larger yachts," Savoy agreed.

But not every waterway is deep enough for every boat.

McCoy said she specializes in helping advise potential yacht owners about the county's varied water depths before they buy a house, if they plan to dock their yacht behind it.

If yacht owners don't have a private dock, the other option is a marina. But marina space is hard to find, with many dock berths reserved for months in advance, McCoy said.

Despite the challenges of owning a boat and finding a place to dock it, yacht brokers say demand continues.

They see interest continuing from business executives moving here with their families as they relocate their companies to Palm Beach County. There's also a growing demand for yachts among female buyers, McCoy added.

They also see younger mega-yacht buyers, some even in their early 30s. This is in sharp contrast to the mostly older buyers in the past, Savoy said.

Palm Beach County may not be as go-go as Miami-Dade County when it comes to showy ships, but if interest continues, "it's coming," Savoy said. "You're going to attract bigger yachts."

Put another way: "No one needs a boat, but everyone needs a boat," McCoy said. "It's the ultimate lifestyle."

Alexandra Clough is a business writer and columnist at  The Palm Beach Post . You can reach her at  [email protected] . Twitter:  @acloughpbp .  Help support our journalism. Subscribe today.

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OCEAN VICTORY yacht NOT for charter*

140m  /  459'4 | fincantieri | 2014.

• Amenities & Toys

Special Features:

• Seven-deck superyacht
• Helicopter hangar with lifting platform
• Under water observation room
• 6 swimming pools
• 2,000 sqm teak decking
• Floodable tender garage
• SOLAS Compliant

The 140m/459'4" motor yacht 'Ocean Victory' was built by Fincantieri in Italy at their Muggiano shipyard. Her interior is styled by design house Alberto Pinto and she was delivered to her owner in December 2014. This luxury vessel's exterior design is the work of Espen Oeino.

Guest Accommodation

Ocean Victory has been designed to comfortably accommodate up to 26 guests in 13 suites. She is also capable of carrying up to 50 crew onboard to ensure a relaxed luxury yacht experience.

Onboard Comfort & Entertainment

Her features include a beauty salon, movie theatre, beauty salon, elevator, underwater lights, beach club, gym and air conditioning.

Range & Performance

Ocean Victory is built with a steel hull and aluminium superstructure, with teak decks. Powered by twin electric (16V 4000 M40) 6,973hp engines running at 270rpm, she comfortably cruises at 18 knots, reaches a maximum speed of 25 knots with a range of up to 6,000 nautical miles from her 800,000 litre fuel tanks at 15 knots. Ocean Victory features at-anchor stabilizers providing exceptional comfort levels. Her water tanks store around 145,000 Litres of fresh water. She was built to SOLAS (Safety of Life at Sea) classification society rules.

*Charter Ocean Victory Motor Yacht

Motor yacht Ocean Victory is currently not believed to be available for private Charter. To view similar yachts for charter , or contact your Yacht Charter Broker for information about renting a luxury charter yacht.

Ocean Victory Yacht Owner, Captain or marketing company

'Yacht Charter Fleet' is a free information service, if your yacht is available for charter please contact us with details and photos and we will update our records.

Ocean Victory Photos

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Who owns the ship that struck the Francis Scott Key Bridge in Baltimore?

By Megan Cerullo

Edited By Anne Marie Lee

Updated on: March 26, 2024 / 5:05 PM EDT / CBS News

The collapse of  Baltimore's Francis Scott Key Bridge on Tuesday after being struck by a cargo ship has raised questions about who owns and manages the ship, as well as on the potential impact on one the busiest ports in the U.S.

Called the Dali, the 948-foot vessel that hit the bridge is managed by Synergy Marine Group, a Singapore-based company with over 660 ships under management worldwide, according to its website . The group said the ship was operated by charter vessel company Synergy Group and chartered by Danish shipping giant Maersk at the time of the incident, which sent vehicles and people tumbling into the Patapsco River.

"We are horrified by what has happened in Baltimore, and our thoughts are with all of those affected," Maersk said in a statement to CBS News on Tuesday, in which it also confirmed the ship was carrying cargo for Maersk customers. The company had no crew or personnel aboard the ship.

The Dali, which can carry up to 10,000 twenty-foot equivalent units, or TEUs, was carrying nearly 4,700 containers at the time of the collision. It was operated by a 22-person, Indian crew. It was not immediately clear what kind of cargo the ship was carrying. 

Who owns and manages the Dali?

The Dali is owned by Grace Ocean Private, a Singapore-based company that provides water transportation services. The ship was chartered by Danish container shipping company Maersk at the time of the collision.

Synergy Marine, founded in 2006, provides a range of ship management services, including managing ships' technical components and their crews and overseeing safety, according to S&P Capital IQ. Its parent company, Unity Group Holdings International, an investment holding company, was founded in 2008 and is based in Hong Kong.

Where was the ship headed?

The outbound ship had left Baltimore and was headed for Colombo, the capital of Sri Lanka, Synergy Marine Group said in a  press release . 

How busy is the Port of Baltimore?

In 2023, the Port of Baltimore handled a record 52.3 million tons of foreign cargo, worth $80 billion, according  to the office of Maryland Gov. Wes Moore. The port is also a significant provider of local jobs. 

The top port in the U.S. for sugar and gypsum imports, it is the ninth busiest U.S. port by the total volume and value of foreign cargo handled. All vessel traffic into and out of the facility is currently suspended, although the port remains open and trucks continue to be processed within its terminals, according to a statement released by Port of Baltimore officials. 

What is the potential local economic impact?

Directly, the port supports 15,300 jobs, while another 140,000 in the area are related to port activities. The jobs provide a combined $3.3 billion in personal income, according to a CBS News report . The Port of Baltimore said Tuesday that it is unclear how long ship traffic will be suspended.

The disaster also caused chaos for local drivers. The Maryland Transportation Authority said all lanes were closed in both directions on I-695, with traffic being detoured to I-95 and I-895.

How could the bridge collapse affect consumers and businesses?

Experts say the bridge collapse could cause significant supply chain disruptions.

"While Baltimore is not one of the largest U.S. East Coast ports, it still imports and exports more than 1 million containers each year, so there is the potential for this to cause significant disruption to supply chains," Emily Stausbøll, a market analyst at Xeneta, an ocean and air freight analytics platform, said in a statement. 

She added that freight services from Asia to the East Coast in the U.S. have already been hampered by drought in the Panama Canal, as well as risks related to conflict in the Red Sea. Nearby ports, including those in New York, New Jersey and Virginia, will be relied on to handle more shipments if Baltimore remains inaccessible. 

Whether ocean freight shipping rates will rise dramatically, potentially affecting consumers as retailers pass along higher costs, will depend on how much extra capacity the alternate ports can handle, Stausbøll said. "However, there is only so much port capacity available and this will leave supply chains vulnerable to any further pressure."

Marty Durbin, senior vice president of policy at the U.S. Chamber of Commerce, said that the bridge is a critical connector of "people, businesses, and communities."

"Unfortunately, its prolonged closure will likely disrupt commercial activities and supply chains that rely on the bridge and Port of Baltimore each day," he said in a statement.

What other industries could be affected?

Trucking companies could be severely affected by the disaster. 

"Aside from the obvious tragedy, this incident will have significant and long-lasting impacts on the region," American Trucking Associations spokesperson Jessica Gail said, calling Key Bridge and Baltimore's port "critical components'' of the nation's infrastructure.

Gail noted that 1.3 million trucks cross the bridge every year — 3,600 a day. Trucks that carry hazardous materials will now have to make 30 miles of detours around Baltimore because they are prohibited from using the city's tunnels, she said, adding to delays and increasing fuel costs.

"Time-wise, it's going to hurt us a lot," added Russell Brehm, the terminal manager in Baltimore for Lee Transport, which trucks hazardous materials such as petroleum products and chemicals. The loss of the bridge will double to two hours the time it takes Lee to get loads from its terminal in Baltimore's Curtis Bay to the BJ's gasoline station in the waterfront neighborhood of Canton, he estimated.

Cruise operators are also being affected. A Carnival cruise ship that set off Sunday for the Bahamas had been scheduled to return to Baltimore on March 31. Carnival said Tuesday that it is "currently evaluating options for Carnival Legend's scheduled return on Sunday." The company also has cruises scheduled to set sail from Baltimore through the summer. 

Norwegian Cruise Line last year introduced new routes departing from the Port of Baltimore. Its sailings are scheduled for late this year. The company said the Key Bridge collapse doesn't immediately require it to reroute any ships.

Who will pay to rebuild the bridge?

President Biden said Tuesday that the federal government, with congressional support, would pay to rebuild the bridge.

"We're going to work with our partners in Congress to make sure the state gets the support it needs. It's my intention that the federal government will pay for the entire cost of reconstructing that bridge," Biden said in comments from the White House. "And I expect the Congress to support my effort. This is going to take some time. The people of Baltimore can count on us though, to stick with them, at every step of the way, till the port is reopened and the bridge is rebuilt."

—The Associated Press contributed to this report.

• Francis Scott Key Bridge
• Bridge Collapse
• Patapsco River

Megan Cerullo is a New York-based reporter for CBS MoneyWatch covering small business, workplace, health care, consumer spending and personal finance topics. She regularly appears on CBS News Streaming to discuss her reporting.

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