Chinese cargo owners face losses after bridge collapse

According to an insurance specialist from a shipping firm, Chinese cargo owners could face substantial financial risks after the Singapore-flagged container vessel Dali recently collided with the Francis Scott Key Bridge in Baltimore, Maryland, The Business Times reported. The expert added that the shipowners may declare “general average” due to the huge amount of losses caused by the accident. As the ship, which was ultimately bound for China and contained goods exported from the U.S., several Chinese cargo owners may have to pay for the accident.