ANNAPOLIS, Md.—Maryland has reached a settlement with the owner and operator of the massive cargo ship that crashed into a Baltimore bridge two years ago, causing its deadly collapse, state officials announced Thursday.
The settlement in principle was reached with Grace Ocean Private Limited and Synergy Marine Pte Ltd, owner and operator of the M/V Dali, Attorney General Anthony Brown said. The settlement resolves a portion of the state’s claims arising from the ship’s March 26, 2024, crash into the Francis Scott Key Bridge.
“For two years, Maryland workers, families, and communities have carried the weight of a disaster that should never have happened,” Brown said in a news release. It did not give details of the settlement.
The attorney general noted that the Dali’s crash into the bridge “disrupted the Port of Baltimore, devastated livelihoods, and sent economic shockwaves across our State that are still being felt today.”
“Our work is not finished, but this settlement is an important step toward making Maryland whole,” Brown said.
The companies confirmed in a joint statement that significant progress has been made in resolving claims. Within the past week, the statement said, they have reached “two pivotal settlement agreements with the State of Maryland and ACE American Insurance Company that underscore their commitment to a reasonable and structured outcome to this unfortunate incident.”
The $350 million settlement with the insurance company matched the amount ACE paid to Maryland, an amount that represented the limit of the state’s policy.
“These agreements represent a significant step towards resolving the complex litigation surrounding this event and Owners and Managers remain open to negotiating in good faith to reach equitable settlements with other involved parties holding meritorious claims,” the joint statement said.
The Maryland Transportation Authority late last year estimated the price range of a new bridge alone to be between $4.3 billion and $5.2 billion, with an anticipated open-to-traffic date in late 2030.
The settlement does not resolve any claims the state may have against the shipbuilder, Hyundai, the attorney general’s office said.
The ship was leaving Baltimore for Sri Lanka when its steering failed because of a power loss. Six men on a road crew, who were filling potholes during an overnight shift, fell to their deaths when the bridge collapsed.
