Baltimore bridge collapse: Dali’s Singapore owner, manager file petition to cap compensation at US$43.6 million
THE Singapore-based owner and manager of the containership Dali have filed a petition in the US, seeking to exonerate themselves or limit the damages that could arise from the collapse of a Baltimore bridge after the vessel rammed into it.
According to the court application by Grace Ocean and Synergy Marine – the respective owner and manager of Dali –submitted on Monday (Apr 1) to the District Court in Maryland, the allision (striking of a vessel against a fixed object) was not due to any fault, neglect or lack of care on the part of the two companies, the vessel or any persons or entities for whose acts they may be responsible.
However, should they be liable, the companies are asking to invoke the Limitation of Liability Act to cap compensation at about US$43.6 million. This is the remaining value of the ship and its freight after taking into account repair and salvage costs.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
ING unveils 2.5 billion euros buyback as profit beats estimates
Prosper Cap halts operations at UK hotel after fire breaks out
DBS chief expects 2024 earnings to hit new highs as Q1 profit rises 15% to S$2.95 billion
Banking giants race to Riyadh as MBS steps up pressure campaign
BlackRock, Citadel reap billion-dollar deals from Australia fund
Credit Suisse faces 50 billion won South Korea short-sale fine