Maryland settles with owners and operators of cargo ship that hit Baltimore's Key Bridge

The owners and operators of the cargo ship that crashed into Baltimore's Francis Scott Key Bridge in 2024 have reached a settlement in principle with the State of Maryland, Attorney General Anthony Brown announced Thursday.

The ship's owner, Grace Ocean Private Limited, and the operator, Synergy Marine Group, will pay part of Maryland's claims from the deadly crash on March 26, 2024. The ship had a power failure and slammed into the bridge. Six construction workers on the bridge were killed and the Port of Baltimore was shut down for nearly three months.

The settlement is still being finalized but it resolves the state's claims filed against both companies.

"For two years, Maryland workers, families, and communities have carried the weight of a disaster that should never have happened," Brown said in a statement. "Our work is not finished, but this settlement is an important step toward making Maryland whole."

The settlement does not resolve any claims Maryland may have with the ship's builder, Hyundai.

Synergy and Grace Ocean have tried to limit their liability for the collapse to around $44 million, using an old maritime law for their claim. However, Baltimore and others are seeking billions in damages for the crash. A trial was set to begin on June 1 to determine if the companies could limit their liability in the case. 

Both Synergy and Grace Ocean have also recently settled with ACE American, the company that insured the Key Bridge. The settlement was for around $350 million, roughly the same amount that American paid to Maryland following the crash.  The reconstructed bridge is still being designed, but the Maryland Transportation Authority hopes to open it to traffic by the end of 2030.