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Declining revenues raise concern over viability of salvage industry

Wreck removal income rather than emergency salvage work for once blamed for sector’s collapsing revenues, prompting International Salvage Union to sound the alarm

International Salvage Union members reported a total of $98m in revenue from just 52 wreck removal jobs last year, in contrast to a haul of $284m from 101 such services in 2019

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Salvors warn of more maritime disasters if LOF dropped

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Cargoship in tow as salvors avert grounding off Norway

Smit Salvage tugs are towing the Dutch yacht carrier Eemslift Hendrika to safety after Norwegian authorities carried out an operation to avert grounding and an oil spill in the Norwegian Sea

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