Maryland Reaches Settlement Over Key Bridge Collapse
BALTIMORE — Maryland officials announced on Thursday that they have reached a settlement in principle with the owner and operator of the cargo ship involved in the 2024 Francis Scott Key Bridge collapse. This agreement addresses some of the state’s claims but is not yet a final, binding contract. The settlement comes as part of ongoing efforts to resolve the aftermath of the tragic incident that resulted in significant loss and disruption.
Details of the Settlement Agreement
Maryland Attorney General Anthony G. Brown confirmed the agreement with Grace Ocean Private Limited and Synergy Marine Pte Ltd., the respective owner and operator of the M/V Dali. This settlement specifically addresses claims filed by various state agencies, including the Maryland Transportation Authority, Maryland Port Administration, and the Maryland Department of the Environment. However, it does not resolve potential claims against the shipbuilder, Hyundai.
A settlement in principle indicates that the parties have agreed on the major terms of the deal but are still working to finalize a written agreement that will make it legally binding. Attorney General Brown emphasized the importance of this settlement, stating, “For two years, Maryland workers, families, and communities have carried the weight of a disaster that should never have happened. Our work is not finished, but this settlement is an important step toward making Maryland whole.”
While the Attorney General’s Office is in the process of finalizing the agreement, no specific dollar amount or additional details have been disclosed. The collapse of the Key Bridge, which occurred on March 26, 2024, tragically resulted in the deaths of six construction workers and caused significant disruption to shipping operations at the Port of Baltimore, leading to widespread economic challenges in the region.
Background and Context of the Incident
The state’s lawsuit, filed in U.S. District Court in September 2024, alleges negligence and mismanagement in the operation of the vessel involved in the incident. The lawsuit contends that the M/V Dali should not have been in service at the time of the collision with the Key Bridge. This legal action reflects the state’s commitment to holding accountable those responsible for the disaster.
In a related development, ACE American Insurance Company recently reached a $350 million settlement with Grace Ocean and Synergy, matching the amount the insurance company paid to Maryland shortly after the bridge collapse. This payment represented the full limit of the state’s bridge insurance policy, further highlighting the financial implications of the incident.
