A $350 million insurance settlement has been reached in the legal fallout from the allision involving MV Dali and the collapse of the Francis Scott Key Bridge in Baltimore, as courts prepare for a high-stakes civil trial scheduled to begin on June 1.
The agreement was disclosed by ACE American Insurance Company, which underwrote the bridge, during a recent federal court hearing. The insurer confirmed it settled with the vessel’s owner, Grace Ocean Private Ltd., and manager, Synergy Marine Group, for $350 million – matching the full amount it had already paid to the State of Maryland shortly after the March 2024 incident.
The settlement represents an initial financial resolution in a case where total claims are widely expected to exceed $5 billion. It does not, however, resolve the broader litigation involving multiple parties, including the State of Maryland, the City of Baltimore, affected businesses, and the families of six construction workers who died when the bridge collapsed.
The casualty occurred on March 26, 2024, when the Singapore-flagged container vessel MV Dali suffered a loss of propulsion and struck a support pier of the Francis Scott Key Bridge. The allision caused a catastrophic structural failure, shutting down access to the Port of Baltimore and triggering significant economic disruption across the region.
Legal proceedings are now entering a critical phase. U.S. District Judge has ordered all parties to be fully prepared for trial, rejecting earlier proposals to delay proceedings until 2027. The court has structured the case into two phases, beginning with arguments over limitation of liability.
Grace Ocean and Synergy Marine have invoked the U.S. Limitation of Liability Act of 1851, seeking to cap their financial exposure at approximately $44 million – based on the post-incident value of the vessel and pending freight. If the court rejects this limitation, the case will proceed to a second phase to determine liability apportionment among the parties.
In parallel, separate claims have already been settled. The vessel’s interests previously agreed to pay $102 million to resolve claims by the U.S. federal government related to salvage, wreck removal, and environmental response operations.
Despite the latest settlement, the financial and legal stakes remain substantial. Maryland has already received the $350 million insurance payout but retains the right to pursue additional compensation beyond that amount. Infrastructure replacement costs have surged, with the bridge reconstruction now projected to extend until at least 2030.
The trial is expected to run for several weeks and draw on extensive evidence, including hundreds of hours of depositions and technical findings from the official investigation. Crew members have remained in the United States as part of the ongoing legal process.
The case is being closely watched across the maritime and insurance sectors, as it may set important precedents for liability, risk allocation, and claims recovery in major infrastructure casualties involving commercial shipping.
