SALVAGE, MARINE

Accidents occur often in the maritime industry. The process of recovering ships, their cargo and other ship parts following a maritime accident such as shipwreck is termed marine salvage. However, marine salvage is not limited to the act of recovering. Salvage acts also include repairing a vessel, towing or refloating grounded or sunken vessels. Salvage operations may execute salvage operations to… More

Accidents occur often in the maritime industry. The process of recovering ships, their cargo and other ship parts following a maritime accident such as shipwreck is termed marine salvage. However, marine salvage is not limited to the act of recovering. Salvage acts also include repairing a vessel, towing or refloating grounded or sunken vessels. Salvage operations may execute salvage operations to protect the environment from damage or pollution; or to recover valuable parts for resale or scrap. Less