Collapsed bridge in Baltimore: Compensation for upcoming record in marine transportation

Compensation from insurers for a marine accident in Baltimore Harbor (East) that led to the collapse of a bridge could be the highest ever paid out in marine transportation, Lloyds of London insurance market boss estimated on Thursday. Interviewed on CNBC.

• Read more: Two bodies were recovered from the wreckage of the Francis Scott Key Bridge in Baltimore

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“It's too early to give an estimate and at this point, if there is a disaster, I don't expect it to be more than what we expect. But it should represent a significant loss, undoubtedly the most significant related to maritime transport,” but not outside our parameters, Lloyd's told the Economic Information Channel. Chairman Bruce Carnegie-Brown estimated.

Among the reasons given are “simultaneous barred ships at the port and unreachability, shutdown of many companies, some supply chains and second-order effects”, of course about shipping. In it, its cargo and platform.

The Port of Baltimore, close to the capital Washington, is actually one of the most important ports in the United States, especially for the import and export of vehicles, according to US Transportation Secretary Pete Buttigieg. 100 to 200 million dollars worth of goods pass through it every day.

However, Moody's analyst Brandon Holmes stressed that indemnification should not be the responsibility of “a single insurer” because the risk is “shared by multiple companies”.

A government task force on supply chains met Wednesday to better determine the potential impact on the U.S. economy, both regionally and nationally, as the port is still blocked by debris from the bridge.

“While the Port of Baltimore remains closed, the White House and federal agencies are actively working to minimize disruptions to seaborne supplies,” the president said in a statement.

Two workers, aged 35 and 26, died in the accident after a container ship crashed into one of the piers of the Francis Scott Key Bridge, while four of their colleagues are presumed dead and are still being sought. .

The victims, according to American press from Latin America, were repairing the ruts of the bridge when it collapsed into the Patapsco River.

The Singapore-flagged vessel Daly struck one of the bridge's piers at 1:29 a.m. (05:29 GMT) after warning of a potential collision, giving authorities time to 'close all traffic lanes of the work.

The bridge, which opened in 1977, collapsed within seconds despite the efforts of the Daly crew to avoid the impact and slow its course, notably by dropping the anchor.

Officials have said that it was an accident in the initial investigation.