Officials say efforts are being shifted from search and rescue to recovery at the site of a major bridge collapse in Baltimore, Maryland.

So far, two people have been pulled from the frigid waters and six workers who were on the bridge at the time of the collapse are still missing.

The Francis Scott Key Bridge in Baltimore, Maryland, collapsed early yesterday morning, prompting Governor Wes Moore to declare a state of emergency.

It all began Monday morning around 1:30 a.m. when the Singaporean ship, Dali, lost power and hit a support beam below the bridge.

Moments before, the crew sent out a mayday distress call just as the vessel lost its steering capabilities and dropped its anchors.

READ MORE: Bridge in Baltimore collapses after being struck by ship, rescue operations underway

The collapse of the bridge is expected to affect commuter traffic and significantly affect trade.

The Port of Baltimore has suspended vessel traffic in and out of the major shipping hub until further notice. This means cargo will have to be rerouted, which will likely cause further delays and increase costs.

While officials say the incident was likely a tragic accident, an investigation still needs to be carried out to determine who was controlling the ship at the time of the collision and what events led up to the power failure onboard.

U.S. President Joe Biden says that the federal government will be paying the full costs to rebuild the bridge in Baltimore to get the waterway reopened again.