Key Bridge collapse: Dali companies could get money back under $2.25B Maryland settlement

Maggie Trovato, Baltimore Sun on Aug 12, 2026

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The companies that agreed to pay Maryland $2.25 billion over the collapse of the Francis Scott Key Bridge could ultimately get some of that money back under terms of the settlement obtained by The Baltimore Sun.

The settlement, agreed to in May, calls for Maryland to pursue damages from the Dali’s shipbuilder, HD Hyundai Heavy Industries. Maryland would keep the first $50 million it recovers, but after that, the state would split the proceeds 50-50 with the Dali’s owner Grace Ocean and operator Synergy Marine, up to $2.25 billion for the vessel companies.

That means the two companies could recoup part of what they agreed to pay Maryland.

When the state announced the settlement in May, the Maryland Attorney General’s Office expressed its intention to file a suit against HD Hyundai Heavy Industries for its role in the collapse. At the time, a spokesperson for the office said that process was “underway.”

In response to questions about the terms of the agreement and the state’s intentions to sue the Dali’s shipbuilder, Kelsey Hartman, a spokesperson for the Attorney General’s Office, said the state has not yet filed a suit against HD Hyundai.

“We have no further comment,” Hartman said.

HD Hyundai Heavy Industries said in a statement that it delivered a safe, “seaworthy” ship nearly a decade before the Key Bridge collapse.

“Since the incident, HHI has worked collaboratively with various authorities to investigate the cause,” the statement said. “Our investigation revealed the Dali’s owner and operator circumvented critical safeguards, cut corners, and violated class rules, which ultimately led to the tragic incident. We intend to vigorously defend the company against any litigation.”

The governor’s office did not immediately respond for comment on the terms of the agreement.

The terms of the agreement

Settlement terms also outline how legal costs will be handled.

The agreement says that the state will be “solely responsible” for costs incurred in its pursuit of HD Hyundai Heavy Industries.

As for attorney fees, the agreement says the state is solely responsible for the portion of attorneys’ fees “incurred on the first $50 million of recovery.”

The agreement also states that if Grace Ocean and Synergy enter into settlement agreements with others who have filed claims in a civil suit against the companies, the vessel companies agree to “use their best efforts to obtain a full and complete release of all claims those claimants may have against the State Parties.”

The intent of this term, the agreement states, is to make sure any additional settlement agreement “fully extinguishes” claims against the state, Grace Ocean and Synergy that arise from the bridge collapse.

Related cases

The $2.25 billion settlement between Maryland, Grace Ocean and Synergy was announced the same day that federal prosecutors announced criminal charges against Synergy Marine Group, Synergy Maritime and one of its employees.

The indictment alleges that the ship’s operators altered the ship’s fuel system to rely on a flushing pump that wasn’t designed for continuous operation and that crew members and shore-side personnel concealed repeated safety problems with the ship.

The companies have pleaded not guilty to the charges, which include conspiracy, obstruction and making false statements.

Synergy, along with Grace Ocean, had also been involved in a civil lawsuit alleging that HD Hyundai Heavy Industries was negligent in its design, construction and manufacturing of a critical switchboard on the Dali. However, last week, a federal judge dismissed the case, ruling that another jurisdiction would be a more appropriate forum for the suit.

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