As someone who lives in a harbor city I can feel a bit of the hurt that people in Baltimore will have over this:
Rescue workers scramble to save dozens after colossal Baltimore Key Bridge collapsed in moments when container ship crashed into it sending cars into the river.
There is video of the bridge collapse and a current live stream of the situation. The ship, a large container carrier under the flag of Singapore, is leaving the harbor. About a minute before the impact it suddenly changes course towards on of the bridge pillars. It then seems to experience a total blackout followed by the impact on the bridge pillar. After the pillar is pushed aside the whole bridge comes down.

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It seems that there were technical difficulties on board. Probably a primary rudder machine failure followed by difficulties to activate the secondary.
The ship's name is Dali. It is nine years old, 300 meter long, 45 meter wide and has a draft of some 12 meter.
There were reportedly two pilots on board.

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The bridge in question is the outer one visible on the lower right. The complete collapse of its seel girders blocks the entrance to the Baltimore harbor. Bigger ships which are now within the harbor will have difficulties to leave.
The Port of Baltimore has some economic significance:
In Maryland's economy, the Port of Baltimore generates nearly $3.3 billion in total personal income and supports 15,330 direct jobs and 139,180 jobs connected to Port work. The Port also generates more than $395 million in taxes and $2.6 billion in business income. It serves over 50 ocean carriers making nearly 1,800 annual visits.
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Cargo. In Fiscal Year 2023, some 11.7 million tons of general cargo were handled by the Port's public terminals, a new record from the 11.3 million tons set in 2022.Moreover, in 2023, the Port of Baltimore handled a record 52.3 million tons of international cargo, valued at $80.8 billion. Nationally, Baltimore ranks 9th for both total dollar value and tonnage of international cargo.
Also in 2023, the Port of Baltimore handled a record 1.3 million tons of imported roll-on/roll-off cargo (ro/ro), high and heavy farm and construction equipment. The Port is the top U.S. port for roll-on/roll-off cargo.
Some U.S. Navy transport and replenishment ships are visible within the port on satellite pictures. The bridge incident could thereby have an effect on resupply missions to Europe and the Middle East.
The removal of the ship which is now stuck under a mess of broken steel girders will be a significant project.
Added: A pic from the live stream. The bow of the ship is deeper in the water than the stern. It was likely damaged when it hit the foundation of the bridge pillar and has taken water. The hundreds of tons of additional metal on its deck won't help either.

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There is smoke coming from one of the ship's exhausts. Its generators are running to provide for the on board systems.
The removal of the debris from the bridge will likely cost in the three digit millions. In current dollar a new bridge will likely cost above $1 billion.