eat away

That’s because when purchasing 30-year mortgages, investors don’t want to see the value of their investment eaten away as the years march on.

The union, in its latest posted statement Monday, said the ocean carriers, mostly foreign-owned, had made billions of dollars of profits on the back of union workers whose wages have been eaten away by inflation.

The cost for a mortgage is heavily influenced by inflation because institutional investors that buy 30-year mortgages that are packed into bundles don’t want to see the value of their investment eaten away.

The metal structure is being eaten away by microbes, creating stalactites of rust called rusticles.

Mr Mortimer said the area of the sea that the ship was in does not have lots of nutrients so the wreck has not been eaten away by organisms.