STIGE Maritime Superyachts & Salvage. The real life Examples of salvage cases and their management in the superyacht industry London, November 27 th , 2019
STIGE Maritime Salvage. Is the meaning clear? Salvage: the act of saving goods from damage or destruction, especially from a ship that has sunk or been damaged or a building that has been damaged by fire or a flood: “The company is going to finance not just the salvage, but also the cleanup.” “They mounted a salvage operation after the fire.” Salvage is not Rescue No ethical or moral implication
STIGE Maritime Salvage. Just a contractual matter? CLAUSE 19 SALVAGE During the period of the Charter, the benefits, if any, from all derelicts, salvages and towages, after paying the Crew’s proportion, hire for the relevant period and expenses, shall be shared equally between the OWNER and the CHARTERER
STIGE Maritime Salvage. The reward IMO International Convention on Salvage, 1989 Article 13 - Criteria for fixing the reward 1. The reward shall be fixed with a view to encouraging salvage operations, taking into account the following criteria without regard to the order in which they are presented below: (a) the salved value of the vessel and other property; (b) the skill and efforts of the salvors in preventing or minimizing damage to the environment; (c) the measure of success obtained by the salvor; (d) the nature and degree of the danger; (e) the skill and efforts of the salvors in salving the vessel, other property and life; (f) the time used and expenses and losses incurred by the salvors; (g) the risk of liability and other risks run by the salvors or their equipment; (h) the promptness of the services rendered; (i) the availability and use of vessels or other equipment intended for salvage operations; (j) the state of readiness and efficiency of the salvor's equipment and the value thereof. 2. Payment of a reward fixed according to paragraph 1 shall be made by all of the vessel and other property interests in proportion to their respective salved values. However, a State Party may in its national law provide that the payment of a reward has to be made by one of these interests, subject to a right of recourse of this interest against the other interests for their respective shares. Nothing in this article shall prevent any right of defence. 3. The rewards, exclusive of any interest and recoverable legal costs that may be payable thereon, shall not exceed the salved value of the vessel and other property.
STIGE Maritime Salvage. Everything clear? Rescate = Rescue Salvamento = Salvage? Bote de salvamento = Lifeboat Secours = Rescue Sauvetage = Salvage? IMO: Convention internationale sur la recherche et le sauvetage maritimes (Convention SAR) Soccorso = Rescue Salvataggio = Salvage? Scialuppa di salvataggio = Lifeboat
STIGE Maritime Salvage. Everything clear? IMO, International Convention On Salvage, 1989 Article 16 - Salvage of persons 1. No remuneration is due from persons whose lives are saved, but nothing in this article shall affect the provisions of national law on this subject. 2. A salvor of human life, who has taken part in the services rendered on the occasion of the accident giving rise to salvage, is entitled to a fair share of the payment awarded to the salvor for salving the vessel or other property or preventing or minimizing damage to the environment.
STIGE Maritime Case study 1 – Monaco Grand Prix Azimut 105 Key points: Length 31.4 m - Dispatched by Coast Guard 2xMTU 16V2000 M91 – 1741 kW each - No immediate peril Insured Value: EUR 7,800,000 - No risk for human life - No risk of pollution - No damage - Fine weather - Few hours of service - Estimated value EUR 5.8 mio - Claimed salvage compensation EUR 280,000
STIGE Maritime Case study 2 – “The Rock” Key points: Ferretti 630 - Skilled and immediate Length 19.5 m assistance 2xMAN V12-1224, 900 kW each - Serious risk of sinking Estimated Value: EUR 3,500,000 - No risk for human life - Risk of pollution - Huge damage - Fine weather - Towed and hauled to salvors’ facilities - Guessed value in damaged condition EUR 900,000 - Claimed salvage compensation EUR 352,000
STIGE Maritime Case study 3 – Dangerous nuns Key points: - Difficult location - Local pressures - Sensitive area - Unfavourable weather forecast - Serious risk of being torn to pieces - No risk for human life - Risk of pollution - Flooded in full - Intervention by SNSM, volunteers Sanlorenzo SD92 partly funded by French state Length 27.6 m - CTL 2xMAN D2842LE453 V12 – 882 kW each - P&I Club attended to wreck Insured Value: EUR 4,000,000 removal - No salvage claimed due to “bureaucratic burden”
STIGE Maritime Case study 4 – Fire on board Custom yacht Key points: Length 34.5 m - Intervention by Coast 2xMercedes OM404, 350 kW each Guard Insured Value: EUR 4,000,000 - No immediate peril - No risk for human life - No risk of pollution - Important but manageable damage - Fine weather - Few minutes of service - Yacht value EUR 4.0 mio - Hoped salvage compensation EUR 350,000
STIGE Maritime Salvage cases: lessons learnt Training of crew/awareness of owners How to deal with authorities/local expectations To be fast and determined. Time plays a role and is against us Be aware that in any case a lot of money is involved To consider a standard salvage contract
STIGE Maritime Superyachts & Salvage. The real life Thank you very much STIGE Maritime Alessio Gnecco Molo Ponte Morosini 51 STIGE Maritime – Alessio Gnecco Genoa – Italy Molo Ponte Morosini 51 – Genoa (Italy) www. stige.co.uk www.stige.co.uk
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