The disaster is likely to result in industry-wide multi-billion-dollar insurance claims, which could make it the largest single marine insurance loss, Lloyd’s of London chairperson Bruce Carnegie-Brown told Reuters earlier on Thursday.
Don’t know if this is adjusted for inflation or not but no doubt it’s going to be a costly accident.
They’ll probably claim liability limitation by the same law that Transocean used to limit theirs for the Deepwater Horizon debacle:
Update:
I see Bloomberg has picked up on that one as well:
Modern courts are quite stingy about granting limitation of liability. There are exceptions.
I think it’s a certainty the shipowner will move for limitation of liability. However, there are as yet unknown facts that will bear on whether it might, or might not, be granted.
I wonder what type of replacement bridge will be built. Will it be of a similar trust design as original (built in the 70’s), maybe cable-stayed or perhaps a suspension bridge. Just thinking ahead…wondering.
I’m thinking something like the new Tappan Zee or Goethals bridges.
That seems to be the trend.
They look better too