Tag: wreck removal

New report to warn of the removal cost increase According to insurers, Lloyd's of London, the cost of dealing with wrecks is rising.A new report'The challenges and implications of removing shipwrecks in the 21st century' has been published which warns that the cost of dealing with shipwrecks is spiralling and the increase in removal cost is often passed to insurers, reinsurers and ship owners.Recent examples include the MV Rena, a container ship which sank off New Zealand in 2011 (cost, $240 million to date) and the Costa Concordia.The total cost of the top 20 most expensive wreck removals in the past decade is $2.1bn and rising.The report shows how increasing vessel sizes and growing cargo volumes are driving up wreck removal costs. In the 1990s a large container vessel carried 5000 twenty foot equivalent units (TEU).Today, the largest container ship has a capacity of 16,000 units.The report can be downloaded here.Source: Lloyds

India set to ratify Nairobi International Convention on removal of wrecks

Denmark: Amendments to maritime acts

Wreck removal is estimated to take about 12 months On Friday Emergency Deputy Commissioner for the sinking of the Costa Concordia, Franco Gabrielli, Costa Cruises, and the TITAN Salvage / Micoperi consortium - the team recently contracted for the salvage work - presented the approved plans for removing the wrecked ship Costa Concordia. The salvage work will begin in a few days and is estimated to take about 12 months.TITAN Salvage, a U.S. company owned by Crowley Maritime Group, is a world leader in the recovery of wrecks. Micoperi is an Italian company specializing in underwater construction and engineering, and has many years of experience in the field.The plan, which will re-float the vessel's hull, places the highest priority for ensuring the lowest possible environmental impact as well as the conservation of tourist and economic activities on the island of Giglio, with maximum safety precautions.Environmental protection will be the top priority throughout operations of this mammoth recovery. The plan also includes measures to safeguard the economic and tourist activities on the island of Giglio. Staff will work to remove asbestos. The work is not expected to have any significant effects on the summer tourist season. To further reduce any impact ...