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You are here: Home → Archive → 2009 → Mar → 12 → Salvage costs rocket

Salvage costs rocket

by Obsidian — last modified Mar 12, 2009 12:00 AM

Wreck removal costs following maritime casualties are spiralling out of control, members of the International Salvage Union heard last week.

ISU president Arnold Witte said that since the Exxon Valdez accident, costs had been increasing, citing as examples the MSC Napoli and the New Flame in Gibraltar.

Mr Witte said he recognised the underwriting community was suffering as a...

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