this post was submitted on 26 Mar 2024
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[–] TechNerdWizard42@lemmy.world 82 points 7 months ago (2 children)

The bridge is basically valueless compared to everything else about the ship and cargo plus the lawsuits from various contract breaches and other damages. Port shutdowns, environmental cleanup, insurance losses. $100m is a rounding error.

[–] deegeese@sopuli.xyz 42 points 7 months ago (20 children)

It was worth $110M in 1977. Probably a couple $Billion now.

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[–] Madison420@lemmy.world 27 points 7 months ago (1 children)

It's cost is both material and in the business of links from one side to the other. It's almost certainly worth multi billions at this point.

[–] Kiosade@lemmy.ca 12 points 7 months ago

And not just the business from one side of the land to the other, but also from the port to… everywhere out in the ocean. With the old bridge remnants blocking ships, that’s a LOT of lost business…

[–] Tugboater203@kbin.social 46 points 7 months ago (1 children)

It doesn't matter what the bridge is worth, the owners are only liable up to the value of the ship. They're protected by US and International law. The owners will be filing to limit their liability soon if they haven't done so already.

https://www.britannica.com/topic/maritime-law/Limitation-of-liability

[–] fine_sandy_bottom@discuss.tchncs.de 26 points 7 months ago (10 children)

Interesting.

This formula means, generally speaking, that the shipowner is entitled to limit his liability for the negligence of the master or crew, but not for his own personal negligence or that of his managerial personnel.

Does this mean, if the captain fucks up their liability is limited, but if the accident is caused due to systematic poor maintenance maybe not?

[–] Tugboater203@kbin.social 14 points 7 months ago

[IANAL]To a degree yes, this is why they love to find human error, it gets them covered by their insurance and limits the liability. Systemic issues that can be proven to come from the office would open them up. This is all before we get into shell companies and vessel charters .

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[–] Skyrmir@lemmy.world 33 points 7 months ago (4 children)

They were on the phone with bankruptcy lawyers before dawn. That is the ones that didn't just disappear into hiding.

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[–] SubArcticTundra@lemmy.ml 21 points 7 months ago (10 children)

Can you get insurance for a ship?

[–] Liz@midwest.social 35 points 7 months ago (3 children)

Yes, there's rather shady business surrounding ship insurance, actually.

[–] unconsciousvoidling@sh.itjust.works 25 points 7 months ago (4 children)

Is there anything in existence that isn’t a fucking scam ?

[–] AnxiousOtter@lemmy.world 33 points 7 months ago (3 children)

sourdough bread is pretty swell.

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[–] Agent641@lemmy.world 10 points 7 months ago

Sir I will insure your ship for just a $1000 premium. I only take payment in iTunes gift card.

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[–] MsPenguinette@lemmy.world 18 points 7 months ago (1 children)

Estimates I could find said $60-$120 million

I assume wrongful debt suits are gonna eclipse that tho

[–] CptEnder@lemmy.world 44 points 7 months ago (1 children)

I think that's when it was built. A superstructure like a major port bridge will be well into the billions in 2024 money.

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[–] istanbullu@lemmy.ml 13 points 7 months ago* (last edited 7 months ago) (1 children)

They'll declare bankruptcy before they fish the victims out of the water

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