How was he able to descend without any kind of ballast or use of his own force if he had air in his lungs to begin with?
From the video it looks like he just dropped like a rock. If he had air in his lungs he would have naturally floated, and he would have had to swim down, or use ballast. I don't think he did either.
He has a weight on his back. Also on the youbtube comments for the video he said he used a rope (you can see the rope around 1:41 of the video) and fins at various points, and it was edited out. This video was shot to look cool and be artistic, not reality. This guy has set world records in free diving, but even his constant weight record is only 113 meters, and the bottom of that hole is 202 meters.