Don, these are very large cables, with very low resistance. It would not take much in the way of a poor connection, to add enough to the total resistance such that the current drops by 40%. This might cause overheating without the release of smoke. The Phase C cables all terminate at the same point. My first step in troubleshooting would be to look for a bad connection at that point.
My next step would be to try to learn the exact manner in which the cables were laid. I would seek out the persons who installed the cables, and ask them what they remember about the installation. If that cannot be done (e.g., they can't be found or they don't remember), and if there were no photos taken before the trench was back-filled, I might wind up recommending that they break out the shovels.
I would not apply "Occam's Razor" on this one. You don't have to look first at the simplest of possible causes. Rather, you should first attempt to verify or disprove the causes that are the simplest ones to investigate. A thermal gun is all you need to test the connections. Checking the layout of the conductors in the trench is less easy.