What Is Marine Salvage?

This ship is a good candidate for scrap salvage.

Marine salvage is often associated with romantic images of sailors in peril and profit floating on the high seas. Though this wild-west perception isn't entirely inaccurate, the story of this niche industry is far more complicated than one might imagine.

Definition of Salvage

Marine salvage is defined as the process of rescuing a ship, its crew and/or its cargo and other property from imminent peril.

Peril

As defined by law, peril usually involves a ship which is sinking, has been sunk, or is abandoned or derelict.

Wreck Salvage

The popular notion of marine salvage involves raising a sunken ship, but this is usually a lower priority than cargo salvage.

Cargo Salvage

Often, cargo is salvaged by contractor agencies because it poses an imminent threat to the environment.

Equipment Salvage

Large components like engines, turbines and drive systems can be salvaged if they survive the intrusion of seawater.

Salvage Rights

Salvage rights vary by country. In Britain, the original property owner retains all cargo rights regardless of time, but the cost of recovery may be compensated for in court.

References

• Safesea.com: The Largest Ever Salvage Award (PDF)
• RMS Republic: Salvage Laws
• Safesea.com: International Convention on Salvage (PDF)

Resources

• Pasha Bulker Salvage (Video)