ANNAPOLIS, Md. (AP) — Maryland has reached a settlement with the owner and operator of the massive cargo ship that crashed into a Baltimore bridge two years ago, causing its deadly collapse, state officials announced Thursday.

The settlement in principle was reached with Grace Ocean Private Limited and Synergy Marine Pte Ltd, owner and operator of the M/V Dali, Attorney General Anthony Brown said. The settlement resolves a portion of the state's claims arising from the ship's March 26, 2024, crash into the Francis Scott Key Bridge.

“For two years, Maryland workers, families, and communities have carried the weight of a disaster that should never have happened," Brown said in a news release. It did not give details of the settlement.

The attorney general noted that the Dali's crash into the bridge "disrupted the Port of Baltimore, devastated livelihoods, and sent economic shockwaves across our State that are still being felt today.”

“Our work is not finished, but this settlement is an important step toward making Maryland whole," Brown said.

A spokesperson for the owner and manager of the ship did not immediately respond to a request for comment.

The Maryland Transportation Authority late last year estimated the price range of a new bridge alone to be between $4.3 billion and $5.2 billion, with an anticipated open-to-traffic date in late 2030.

The settlement does not resolve any claims the state may have against the shipbuilder, Hyundai, the attorney general's office said.

The ship was leaving Baltimore for Sri Lanka when its steering failed because of a power loss. Six men on a road crew, who were filling potholes during an overnight shift, fell to their deaths when the bridge collapsed.

The state’s claims, filed in federal court in Maryland in September 2024, alleged that the disaster was the result of negligence, mismanagement, and the reckless operation of a vessel that was not seaworthy and should never have left port.

The state sought damages on behalf of its agencies for the destruction of the bridge, harm to the Patapsco River and surrounding environment, lost revenues, and the wide-ranging economic losses sustained by Maryland and its residents.

The collapse brought shipping at the Port of Baltimore to a complete halt, disrupted the livelihoods of thousands of workers, rerouted traffic through communities already bearing disproportionate burdens, and triggered economic ripple effects still being felt across the state, the attorney general's office noted.

The bridge, a longstanding Baltimore landmark, was a vital piece of transportation infrastructure that allowed drivers to easily bypass downtown. The original 1.6-mile (2.6-kilometer) steel span took five years to construct and opened to traffic in 1977. It was particularly important for the city’s port operations.