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International

Cost of removing shipwrecks rising fast: Lloyd's report

March 25, 2013 Reprints

The cost of removing shipwrecks is increasing fast, affecting insurers, reinsurers and ultimately shipowners, reports The FINANCIAL citing a new report by Lloyd's of London.

The report highlighted that the 20 most expensive wreck removals in the past decade involved a total cost of $2.1 billion.

According to the report, removing the wreck of the MV Rena cost $240 million and that of the MSC Napoli cost $135 million.

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Cost of removing shipwrecks rising fast: Lloyd's report

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