The owners and manager of the cargo ship involved in the Baltimore bridge collapse have denied responsibility and argued that they should not be held liable for amounts larger than the new value of the damaged vessel. Grace Ocean Private Ltd. and Synergy Marine Pte Ltd. filed a petition in federal court denying any fault or neglect in the incident. They claimed that the bridge collapse was not their fault and that any faults that occurred were without their knowledge or involvement.
The companies have requested that liability costs be capped at $43.6 million, which they say is the value of the damaged vessel. They estimated that repairs to the ship will cost at least $28 million, salvage operations at least $19.5 million, and freight costs at $1.1 million. Those opposing limiting the liability of the companies must now prove fault or neglect in the incident. Funds would also need to be set aside for the families of the construction crew members who were killed in the bridge collapse.
The collision is expected to be one of the costliest marine insured losses in history, with estimates ranging from $2 billion to $4 billion. The collapse of the Francis Scott Key Bridge led to the shutdown of operations at the Port of Baltimore, impacting thousands of jobs and millions of dollars in wages. The cost to rebuild the bridge is estimated to be at least $400 million, with the Biden administration already approving $60 million in emergency federal aid for debris removal from the river.
President Biden has stated that the federal government will cover the entire cost of reconstructing the bridge, but it remains unclear if Congress will support this plan. Biden is set to visit Baltimore to survey the damage and work with local officials to reopen the port and rebuild the bridge. The administration is leading a whole-of-government approach to address the aftermath of the disaster and support the people of Baltimore during this challenging time. The federal court in Maryland will ultimately determine the responsible parties and the amount owed in the aftermath of the fatal bridge collapse.
