Update on Baltimore Bridge Collapse: Salvage Efforts and Insurance Implications
As the aftermath of the Baltimore bridge collapse continues to unfold, salvage teams are working tirelessly to mitigate the damage caused by the collision of the cargo ship MV Dali with the Francis Scott Key Bridge on March 26th. Recent video footage depicts the painstaking process of removing containers from the Dali, which remains lodged in the Patapsco River. The removal process, while slow, allows Unified Command to clear the remaining bridge debris and lays the groundwork for reopening the Fort Henry Channel.
The endeavor to remove containers from the Dali is a race against time and contingent on favorable weather conditions. According to U.S. Coast Guard Capt. David O’Connell, the Unified Command is steadfast in its commitment to safely and efficiently achieve its objectives, including refloating the Dali and recovering missing individuals.
However, the challenges posed by the collision extend beyond the immediate salvage efforts. Jennifer Homendy, chair of the National Transportation Safety Board (NTSB), revealed that the Dali carried hazardous materials, including corrosive and flammable substances. Despite containment efforts, hazardous materials have leaked into the Patapsco River, necessitating careful environmental solutions.
Furthermore, the financial ramifications of the incident loom large. The wreckage of the collapsed Key Bridge, estimated to weigh 50,000 tons, poses a monumental cleanup and reconstruction task. The likely declaration of General Average (GA) by the Dali’s owner adds another layer of complexity. Under GA, all parties involved in the sea voyage, including cargo owners, share the losses incurred. As Patrizia Kern, chief insurance officer at Breeze, explains, this process involves meticulous valuation of goods and could span several years if owners make the declaration.
As the insurance implications reverberate throughout the shipping industry, it becomes evident that the fallout from the Baltimore bridge collapse will be far-reaching. During the salvage operations and legal proceedings, the resilience and solidarity of the affected community stand as a testament to the human spirit. With President Biden’s assurance of federal support and the unwavering commitment of first responders, the journey towards recovery begins—one step at a time.
Stay tuned for further updates as the story unfolds and Scarbrough Global continues to monitor developments in this evolving situation. If you have questions on how this collapse will impact your cargo, contact your Scarbrough representative.
