396 views
Photo from Pexels by Sora Shimazaki

Synergy Marine and Grace Ocean to pay $133m for US bridge collapse

It will go to the U.S. Treasury and the federal agencies affected.

Singaporean firms Grace Ocean and Synergy Marine, which owned the motor vessel responsible for the Francis Scott Key bridge collapse, have agreed to pay $133m (US$101m) to resolve a civil claim by the United States.

The settlement resolves the claims for civil damages amounting to $136m (US$103m) under the Rivers and Harbors Act, Oil Pollution Act, and general maritime law, according to the U.S. Department of Justice.

It will go to the U.S. Treasury and the federal agencies affected by the allision or involved in the response.

The payment is in addition to $128,428 (US$97,294) recently settled by Grace Ocean to the Coast Guard National Pollution Fund Center and does not include any damages for the reconstruction of the bridge.

The resolution was handled by attorneys from the Civil Division’s Aviation, Space and Admiralty Litigation Section, and the U.S. Attorney’s Office for the District of Maryland, Baltimore Division.

($1=US$0.76)

Join Singapore Business Review community
A NOTE FROM SINGAPORE BUSINESS REVIEW

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.


If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Exclusives

Monday.com picks Singapore for Southeast Asia expansion
Its in-house designers created Singapore-inspired artwork in the company's colors.
Tsuklio targets dual-income families in Singapore expansion
The Japanese meal subscription platform logged 3,000 pre-registrations before launch.
Choosier Asia buyers steer auctions toward rare art
Collectors are bidding harder for works with clear ownership histories.