Stephane Kovatchev News Today

The owner of the ship that rammed into a Baltimore bridge could face hundreds of millions of dollars in damage claims.

The owner of the ship that rammed into a Baltimore bridge could face hundreds of millions of dollars in damage claims after the accident sent vehicles

International Business News: Maritime experts predict a complex legal battle following the Baltimore bridge accident involving the Dali container ship. However, legal specialists

A 1851 law could lower the exposure to tens of millions of dollars by capping the ship owner’s liability at how much the vessel is worth after the crash, plus any earnings it collected from carrying the freight on board, said Martin Davies.

An 1851 law mostly caps liability at ship’s value after crash

Over the past 10 days, Maersk, Hapag-Lloyd and closely held CMA CGM SA of France — all top-five players that together control about one-third of the worlds container capacity — said theyre cutting costs.

Shipping companies, after a pandemic boom, face hardship as the rates they charge fall below costs and look to stay there.

Maersk would use the proceeds from the offering to help itself finance or refinance green assets, including fixed assets, capital and operating expenses, along with acquisition of other companies.

Maersk would use the proceeds from the offering to help itself finance or refinance green assets, including fixed assets, capital and operating expenses, along with acquisition of other companies.

Maersk said that global container trade is likely to plunge 4% this year. This is down from the Copenhagen-based companys previous prediction of 2.5%.