Privatize the profits and socialize the losses, here we go again.
You know, you can do that too…. you exist in the same system
Not all of us are greedy sociopaths, thank you.
Dali owner file petition to cap liability in Baltimore bridge collapse at $43.7M
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Re: Dali owner file petition to cap liability in Baltimore bridge collapse at $43.7M
#12Some helpful context: https://www.ft.com/content/c44306cc-6057-4ca3-923d-d67d09676...
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Re: Dali owner file petition to cap liability in Baltimore bridge collapse at $43.7M
#13Rebuild cost: $600m [0]
I do hope We the People have zealous advocates.
[0]https://news.sky.com/story/baltimore-trade-implications-from...
Re: Dali owner file petition to cap liability in Baltimore bridge collapse at $43.7M
#14I have wondered what the insurance structure for this is and how liable the vessel's owners and insurers are for damage to public infrastructure. Marine insurance is one of the oldest types of insurance and antique in some respects, with large vessels covered by several underwriting firms. So potentially this is a massive financial hit for multiple companies if there is not a limit on liability.
There are insurance companies that insure insurers. At each lever there are solvency requirements.
Re: Dali owner file petition to cap liability in Baltimore bridge collapse at $43.7M
#15I stopped reading at point 13 >13. The Casualty was not due to any fault, neglect, or want of care on the part of Petitioners, the Vessel, or any persons or entities for whose acts Petitioners may be responsible. This comes out of nowhere and they base everything on this statement! Amazing
There was no fault neglect or want of care. The engine failed. The ship was out of control. It was not bad maneuvering. It was not sleeping on the wheel. It was not want of care (it was piloted by a harbor pilot).
Re: Dali owner file petition to cap liability in Baltimore bridge collapse at $43.7M
#16Earlier quoted context omitted.
You know, you can do that too…. you exist in the same system
Not all of us are greedy sociopaths, thank you.
the system isn’t saying that any particular outcome is better or worse
and what’s more likely is that the insurance you’re required to have told you to do this in order to keep the insurance, regardless of your individual predilection
Re: Dali owner file petition to cap liability in Baltimore bridge collapse at $43.7M
#17It’s amazing that the captain of such a large vehicle has through the results of their choices the capability to do so much harm
Re: Dali owner file petition to cap liability in Baltimore bridge collapse at $43.7M
#18Rebuild cost: $600m [0] I do hope We the People have zealous advocates. [0] https://news.sky.com/story/baltimore-trade-implications-from...
I hope not. I was irresponsible to let ships pass a dozen times a day through a flimsy contraption that could collapse at the first nudge. This risk was unacceptable.
Unacceptable!
The people of Baltimore have benefited for years of a port facility literally downtown, which is practically the same thing as building houses in a flood zone. Should have never been permitted!
I hope “We The People” accepts the responsibility for their actions!
Re: Dali owner file petition to cap liability in Baltimore bridge collapse at $43.7M
#19I have wondered what the insurance structure for this is and how liable the vessel's owners and insurers are for damage to public infrastructure. Marine insurance is one of the oldest types of insurance and antique in some respects, with large vessels covered by several underwriting firms. So potentially this is a massive financial hit for multiple companies if there is not a limit on liability.
There are insurance companies that insure insurers. At each lever there are solvency requirements.
Right. Base damage is covered by the first line insurer. The excess damage is covered by the backend insurer.
Business is about managing loss. Nothing more. No further emotional support required.
Re: Dali owner file petition to cap liability in Baltimore bridge collapse at $43.7M
#20Rebuild cost: $600m [0] I do hope We the People have zealous advocates. [0] https://news.sky.com/story/baltimore-trade-implications-from...
I hope not. I was irresponsible to let ships pass a dozen times a day through a flimsy contraption that could collapse at the first nudge. This risk was unacceptable. Unacceptable! The people of Baltimore have benefited for years of a port facility literally downtown, which is practically the same thing as building houses in a flood zone. Should have never been permitted! I hope “We The People” accepts the responsibi…
the use of "flimsy contraption" and "first nudge" indicates your level of ignorance of the subject.
https://www.omnicalculator.com/physics/kinetic-energy
https://en.wikipedia.org/wiki/MV_Dali#Description
"Description
Dali is a Neopanamax container ship[7] with an overall length of 299.92 metres (984 ft), beam of 48.2 metres (158 ft 2 in), moulded depth of 24.8 metres (81 ft 4 in), and summer draft of 15.03 metres (49 ft 4 in). Her gross and net tonnages are 91,128 and 52,150, respectively, and her deadweight tonnage is 116,851 tonnes. Her container capacity is 9,971 twenty-foot equivalent units (TEU).[2][8]
Dali is propelled by a single low-speed two-stroke crosshead diesel engine coupled to a fixed-pitch propeller. Her main engine, a 9-cylinder MAN-B&W 9S90ME-C9.2[9] unit manufactured by Hyundai Heavy Industries under license, is rated 41,480 kW (55,630 hp) at 82.5 rpm.[2] Her service speed is 22 knots (41 km/h; 25 mph).[5] For maneuvering in ports, Dali has a single 3,000 kW (4,000 hp) bow thruster. Electricity is generated onboard by two 3,840 kW (5,150 hp) and two 4,400 kW (5,900 hp) auxiliary diesel generators.[4] "