The state of Maryland reached a final settlement of $2.25 billion with Grace Ocean Private Limited and Synergy Marine Pte Ltd., owner and operator of the M/V Dali cargo ship that struck the Francis Scott Key Bridge on March 26, 2024. Maryland Attorney General Anthony Brown stated that the bridge collapse caused damages on a scale the state had never seen, and the settlement reflects the full measure of accountability secured from vessel interests.
On the morning of March 26, 2024, the M/V Dali crashed into a supporting column of the Francis Scott Key Bridge, causing its catastrophic collapse and killing six construction workers. The victims were: Alejandro Hernandez Fuentes, Dorlian Ronial Castillo Cabrera, Jose Mynor Lopez, Carlos Hernández, Miguel Angel Luna Gonzalez, and Maynor Yasir Suazo Sandoval. The disaster brought shipping at the Port of Baltimore to a complete halt, disrupted the livelihoods of thousands of workers, and the port was closed for two months.
Grace Ocean and Synergy Marine initially sought to cap their total liability at approximately $43.7 million by invoking the Limitation of Liability Act of 1851. However, the settlement does not resolve Maryland's claims against shipbuilder Hyundai Heavy Industries; the National Transportation Safety Board in its final report issued in November 2025 found Hyundai Heavy Industries at fault in causing the Dali's loss of power.
The rebuild process is estimated to cost between $4-5 billion and a new bridge is slated to open in 2030. The settlement announcement came hours after federal prosecutors announced criminal charges against the ship's operator Synergy and an employee who was on board when it struck the bridge. According to the indictment, the collision's fallout has caused at least $5 billion in loss.
Note: This summary draws on SupplyChainBrain's publicly visible headline + subhead + opening paragraph and on sector background on the Baltimore Port bridge disaster.
Key Takeaways:
1. Maryland state reached a $2.25 billion final settlement with Dali ship owner and operator
2. March 26, 2024 crash resulted in the deaths of six construction workers
3. Port of Baltimore remained completely closed for two months following the disaster
4. Ship companies initially attempted to limit liability to $43.7 million
5. Maryland will continue to pursue claims against shipbuilder Hyundai Heavy Industries
