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holy shit. I've been getting alerts about it, but that video is so much worse than I imagined.
That doesn't look like a little repair, which is what I had assumed. That looks like the ship's insurer is buying Baltimore a new bridge.
googles
https://en.wikipedia.org/wiki/Francis_Scott_Key_Bridge_%28Baltimore%29
The main span of 1,200 feet (366 m) was the third longest span of any continuous truss in the world.
Smooth.
So $143 million in 1972 dollars...
https://www.usinflationcalculator.com/
$1.06 billion in 2024 dollars.
EDIT:
https://www.vesselfinder.com/vessels/details/9697428
95k ton displacement.
https://www.imo.org/en/About/Conventions/Pages/Convention-on-Limitation-of-Liability-for-Maritime-Claims-(LLMC).aspx
So that'd be 29,200,000 SDR.
https://www.imf.org/external/np/fin/data/rms_sdrv.aspx
1.325610 US dollars per SDR.
So about a $39 million limit on marine liability for a ship of that size, or under 4% of the price of the bridge.
Maybe Baltimore taxpayers are gonna be buying Baltimore a new bridge.
EDIT2: I wonder how owners of larger ships managed to get lower per-ton liability limits than owners of smaller ships.
EDIT3: Oh, wait. Apparently the US isn't party to that treaty. Sounds like the US uses law even more favorable to the shipowner.
https://iclg.com/practice-areas/shipping-laws-and-regulations/usa
https://en.wikipedia.org/wiki/Limitation_of_Liability_Act_of_1851
I guess if you're gonna knock down a bridge with a container ship, the US is probably a good place to do it.
Color me surprised.
I appreciate the research and sources you've listed here. Its quite interesting from an impact perspective.
I am guessing these liability limits are for the cargo, not any damage caused by the ship. If shippers had to ensure everything they shipped for "storms and pirates" in the 1800's, then they probably wouldn't be able to do business. So there is a limit to what shippers would owe their clients if a ship got captured or wrecked. Those clients would need their own insurance if they wanted to be made whole in the event of a catastrophe.
What happens next is likely to be the result if the investigation. If this was a freak mechanical failure, and the boat's maintenance was otherwise up to date, then maybe the State won't be able to go after the boat's owners. But if there's any inkling that there was negligence in the maintenance of the boat, or in the piloting of it, the the State is going to go after the company for all it can. Depending on what they find, there might even be criminal charges.
The article about the treaty is explicitly talking about damage to things ships hit:
Ok, I stand corrected then. They're gonna have to sell a lot of crab cakes to fix that bridge....
Ahhh yes corporate arbitration lawyers. They shall be among the first to be flayed in the uprising.
I think that's probably way more than $39 million.
The Ever Given that got stuck in the Suez Canal was worth about $125 million carrying about $600 million in cargo. It had a capacity of 20,000 TEU (twenty foot equivalent units).
This MV Dali has a capacity of about 10,000 TEU and was carrying 4700 containers. I think no matter how you slice it, the value of the ship and its cargo would be in the hundreds of millions.
Feds are going to pay for it
The feds will front the money to start clearing the harbor and fixing the bridge as soon as possible, but I'd think that they're gonna go after the ship for whatever they can recover. They have whole offices of lawyers who go after liable parties for costs they end up covering.