Contractual and Operational Challenges for Salvage Operators

1. Matthew Callan Commercial Manager

2. Contractual and Operational Challenges for Salvage Operators Titan Salvage Business model for a modern international salvage company What are the major hurdles and challenges for salvage operators Salvage of large vessels Working to contractual obligations Operating in harsh environments

4. Newhaven, United Kingdom

5. Singapore

9. The ‘New’ Players Modern Marine Salvage Company Structure

10. Modern Marine Salvage Company Structure Parent Company Shareholders Corporate Governance (Finance, Insurance, Policies etc) Other Marine Businesses Salvage Company Personnel Equipment Floating Assets

12. LNG Carriers

17. Maersk EEE: 300m x 59m; 18,000 TEU; US$180 million exc. cargo

18. Q-Max: 345m x 54m; 266,000 m3 LNG; US$300 million exc. cargo

24. LOF

25. LOF with SCOPIC

26. Lumpsum ‘No cure, No Pay’

27. Daily Rate with/ without ‘No cure, No Pay’

28. DIY – Do It Yourself

29. Wreck Removal

30. Daily Hire

31. Stage Payments

33. Protection of the Environment

34. Saving of Property

35. Liability/ Insurance

37. Very hot climates

38. Very cold climates

39. Typhoons

40. Remote Locations

41. Politically sensitive regions

49. M/V NEW FLAME Off Europa Point, Gibraltar