Grace Ocean and Synergy Marine announce an agreement with the U.S. Government on cost management related to the Francis Scott Key Bridge incident, while rejecting liability for the event.
Grace Ocean and Synergy Marine Pte Ltd have been cooperating with the Federal Government from the outset of this matter to monitor and manage all costs associated with their role in clearing the main channel in and out of Baltimore Harbor. We are pleased to confirm that Grace Ocean and Synergy have reached an agreement with the United States regarding the payment of those costs, which are fully insured.
The settlement strictly covers costs related to clearing the channel, which we would have been responsible for in any case, and is not indicative of any liability, which we expressly reject for the incident that led to the collapse of the Francis Scott Key Bridge. No punitive damages have been imposed as part of this settlement. In accordance with the settlement, the United States has dismissed its claim.
It is important to highlight that the Federal Government’s claim was unique and significantly different from other claims, as it fell outside the usual limitation of liability framework. Grace Ocean and Synergy are prepared to vigorously defend themselves in the limitation of liability proceedings pending before the Federal Court in Baltimore and to establish that they were not responsible for the incident.
Media Contact:
Vishal Srivastava,
Synergy Marine Group
+91 8754536564
vishal.s@synergyship.com
