SANDY: Obama cancels Florida trip; crew abandons tall ship in distress; electronic trading closed

ORLANDO -- President Obama has cancelled his Florida campaign appearance to return to Washington and monitor East Coast storm, the White House announced this morning.

Ship abandoned

PORTMOUTH, Va. -- Donning survival suits and boarding life boats, the crew of a tall ship in distress off North Carolina’s Outer Banks abandoned the vessel as Hurricane Sandy swirled toward the East Coast, the Coast Guard said early today.

The 17 people aboard the HMS Bounty got into two 25-foot lifeboats with canopies, wearing survival suits and life jackets, Coast Guard Petty Officer 3rd Class David Weydert in Portsmouth, Va., said.

The Coast Guard was trying to determine whether to use cutters or helicopters to rescue the crew, based on the current ocean conditions, Weydert said. Winds of 40 mph and 18-foot seas were reported at the ship, about 90 miles southeast of Cape Hatteras, N.C.

The Coast Guard initially received a call from the owner of the 180-foot, three mast tall ship, HMS Bounty, late Sunday evening, saying she had lost communication with the vessel’s crew.

The Coast Guard in Portsmouth later received a signal from the emergency position indicating radio beacon of the Bounty, confirming the position.

An air crew from Elizabeth City, N.C., sent an HC-130 Hercules aircraft that established communications with the Bounty’s crew.

The vessel was taking on water and had no propulsion.

The ship is a replica of the one made famous in the 1960 MGM film “Mutiny on the Bounty” and it was used in that film, which starred Marlin Brando. The ship was also used in the film “Pirates of the Caribbean: Dead Man’s Chest.”

No electronic trading

NEW YORK -- All major U.S. stock exchanges will remain closed with Hurricane Sandy due to make landfall on the East Coast.

There had been plans to allow electronic trading to go forward today on the New York Stock Exchange, but with all mass transit shut down, getting people in and out of New York was determined to be too dangerous.

Though it’s likely to carry little market relevance, the Dow Jones industrial futures are down 67 points to 12,987. The broader S&P futures have given up 8.10 points to 1,399.50. Nasdaq futures are down 18 points to 2,641.

Some companies are also postponing quarterly earnings reports scheduled for release early this week. So far, that includes Pfizer Inc. and Thomson Reuters.

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