Titanic Law Helps Ship Owner Limit Bridge Collapse Liability

I was wondering if the ship owner/operator was responsible for damages as a result of the bridge collapse. Apparently not much. MIddle-class tax payers will be asked to bend over and take one for “team Private Equity”.



It seems the owner is Maersk, a publicly traded company rather than private equity.


My understanding is that there’s a string of about 5 legal entities involved in the typical container ship cruise, each configured to avoid liabililty. Maersk may own the boat, but they’re likely renting it to someone with a way to escape liability. As the article states: “Maersk seen not at risk as it had no crew aboard the Dali.”



The middle class gets most of the benefit of the arrangements. While the middle class does not get the gravy the rich do, the middle class has a standard of living that is far better because of trade.

The port is major for the import and export of automobiles and car parts. That has crumbled for a while right now.

We can expect a higher inflation number this coming quarter. Minor moment.

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Good article in WSJ today explaining the insurance coverage for Baltimore bridge disaster. They estimate that after about a decade of litigation as the various players try to put the liability on someone else, the eventual payout should be $2 to $3 Billion.



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