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Hungary Property Purchase: Karácsony Buys New Land, Vitézy Still Holds Assets

The Francis Scott ⁤key Bridge in Baltimore, Maryland, collapsed on March 26,‍ 2024, after being struck by the container ship Dali. As of January 31, 2026, the ⁤main shipping channel remains ⁤fully reopened, adn recovery efforts are largely‍ complete, though legal proceedings and ⁤infrastructure ‍rebuilding continue.

Recovery of the‍ Francis ‍Scott⁢ Key Bridge

The recovery ‍of the francis Scott Key‍ Bridge involved‌ the removal of wreckage and the refloating of the Dali.The Unified Command, ‍led ​by the ⁣U.S. Coast Guard, ‌oversaw‍ the complex‌ operation.

The final section of the bridge⁤ was removed on April ⁣22, ⁤2024, clearing the main shipping channel. the Dali was refloated⁢ on⁢ May 20, 2024, and towed to the Tradepoint Atlantic terminal for inspection​ and eventual repairs.

Example: The U.S.Army Corps of Engineers utilized a specialized crane vessel, ⁢the Chesapeake,‍ to lift large sections of the bridge.USACE ​News Release

Legal Proceedings and Liability

A ⁣civil lawsuit was filed by the U.S. Department of‍ Justice against ‌Grace Ocean Private Limited Company, the owner of⁤ the ‍ Dali, and Synergy Marine⁤ Group, the ship’s manager, seeking over $1.9 billion to cover the costs ⁢of the bridge’s reconstruction ⁤and related damages.

The lawsuit alleges negligence on the part of ‍the ⁢ship’s ‍owner and ‌operator,‌ citing inadequate​ maintenance and training. Criminal investigations were also conducted, but as of January 31, 2026, no⁤ criminal charges‌ have been filed. ⁣

Example: The complaint​ filed⁤ in the U.S. District​ Court for the District of Maryland details the alleged failures of the ship’s crew and management. Department of Justice Complaint

Rebuilding the Francis Scott Key ‌Bridge

Maryland Governor Wes Moore announced ​a plan ⁢to rebuild the Francis⁤ Scott Key Bridge, with funding from state and ⁤federal​ sources. The⁤ estimated cost of the project is approximately $1.7 billion.

The rebuilding project ⁢is divided into two phases: an immediate⁤ phase focused on restoring full functionality to the Port of Baltimore, and a long-term phase focused on constructing a new ⁤bridge. The​ state anticipates the new‍ bridge will be completed by September 2027.

Example: The Maryland Transportation ​Authority⁣ (MDOT) released a ⁢Request for ⁣Proposals (RFP) for the design and construction of the new bridge on november 15,​ 2024. MDOT RFP

Impact on the Port of Baltimore

The ⁤collapse of the Key⁢ Bridge substantially ⁤disrupted ⁣operations ‍at the Port of Baltimore, a major ⁤hub⁢ for vehicle imports and exports.‌ The main shipping channel‍ was fully reopened on January⁢ 28, ​2026,⁣ restoring the port to full capacity.

Prior to the channel ‌reopening, cargo was diverted to other East Coast ports, including New⁣ York and‌ New ⁤jersey, and⁣ Norfolk, Virginia. The economic impact⁢ of the disruption was estimated at over‍ $2 billion per month. ‌

Example: In December 2024, the ‍Port​ of ⁤Baltimore reported a 40% decrease in vehicle ⁣imports compared​ to the⁢ same period in 2023. Port⁢ of Baltimore Press Releases

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