The State of Maryland announced this week that it had come to an $2.25 billion settlement agreement with the owners and operators of the container ship Dali for damages resulting from the ship’s collision with the Key Bridge and it’s subsequent collapse. It is the largest marine settlement on record.
The Singapore-flagged Dali struck the Key Bridge on March 24, 2024 as it was exiting Baltimore’s inner harbor after losing power and steerage. The 900-foot ship drifted downstream and struck the sbow a total loss.
The National Transportation Safety Board determined after an investigation that the ship’s loss of power was due to a faulty electrical junction box that cut off electricity to drive train system.
In the accident, three bridge workers lost their lives and the heavily trafficed highway over the harbor was closed for months forcing the nearly 34,000 vehicles that use the bridge every day to reroute around the city.
“This settlement is an important step toward making Maryland whole,” Maryland Attorney General Anthony G. Brown said previously when the agreement in principle was announced in April.
Total economic damages tied to the disaster have been estimated at more than $5 billion, while replacement costs for the Francis Scott Key Bridge are projected between $4.3 billion and $5.2 billion with completion expected around 2030.
