Lewis Campion, president and CEO of the Maryland Motor Truck Association, spoke about the recovery and impact on the trucking industry from the Francis Scott Key Bridge collapse.
The cost to rebuild Baltimore’s Francis Scott Key Bridge could reach nearly $2 billion. maryland officials It said this week when the state filed insurance claims related to the collapse.
The state plans to complete the reconstruction by fall 2028, with the total cost estimated to be between $1.7 billion and $1.9 billion, according to the Maryland Department of Transportation.
The Francis Scott Key Bridge collapsed into the Patapsco River in Baltimore on March 26th. (Al Drago/Bloomberg via Getty Images/Getty Images)
The agency said federal funds, insurance proceeds and other reimbursements will provide a variety of funding for rebuilding and recovery efforts.
on thursday, wall street journal Chubb, the bridge’s insurance company, reported that the state is preparing to cut its $350 million payment for full coverage of the structure.
Baltimore bridge collapse: 5th body found in wreckage of Francis Scott Key Bridge
The payout is likely to be the first of many insurance payouts related to the disaster, with analysts saying it could cost insurers up to $4 billion and shipping It said it could be a record insurance loss.
Francis Scott Key Bridge and Dalí’s freighter photographed on March 29th. (Kevin Dietsch/Getty Images/Getty Images)
The tragedy, which killed six people, occurred after the Singapore-flagged container ship Dali collided with the landmark bridge.
Francis Scott Key Bridge Collapse: Breaking News About the Port of Baltimore
The FBI has also launched a criminal investigation into the incident, which led to the closure of one of the nation’s busiest ports.
Salvage crews are working to remove debris after the freighter Dali collided with the Francis Scott Key Bridge in Baltimore on April 2 and collapsed. (Chip Somodevilla/Getty Images/Getty Images)
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According to the newspaper, Mr. Chubb, Mr. Maryland and their families. victim It is likely that the shipowners will be sued to recover losses from the accident.
FOX Business has reached out to Chubb for comment.
Reuters contributed to this report.
