The marine liability market post-Baltimore – Missed opportunity or used chance?

On 26 March 2024 a vessel called ‘Dali’ collided with the Francis Scott Key Bridge in Baltimore. Regarding the loss quantum, the biggest amount accounts for the bridge repair costs of USD 1.7 billion, followed by business-interruption costs of USD 200 million. The business-interruption costs are mostly due to a toll that was charged for passing the bridge. In addition, loss of life accounts for around USD 150 million. This was unfortunately the fate of five workers who were on the bridge when the accident happened at night and the bridge collapsed. Finally, salvage costs account for USD 105 million. This leads to a total estimate of around USD 2.1 billion.