Salvage & Law Seminar Titan Salvage June11
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Titan Salvage is an international salvage company founded in 1980 that operates bases worldwide. As a modern salvage company, it faces major hurdles like salvaging increasingly large vessels, working within contractual obligations, and operating in harsh environments. Some key challenges include finding qualified salvage masters and engineers, removing passenger ships, LNG carriers, and large containerships, and navigating different contractual options for emergency response and wreck removal while ensuring safety, environmental protection, and property salvage. Titan has successfully completed many complex salvage operations through experienced personnel and specialized equipment.
Salvage & Law Seminar Titan Salvage June11
- 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
- 3. Titan SalvageFounded in 1980 Completed first salvage operation in 1982 Acquired by Crowley Maritime Corporation in October 2005 Experienced salvage personnel and specialised equipment Proven track record in emergency response and wreck removal Reputation for technical and commercial innovation Operation bases spread worldwide: Florida, USA
- 4. Newhaven, United Kingdom
- 5. Singapore
- 6. Cairns, Australia (April 2011).NewhavenFloridaSingaporeCairns
- 8. Marine Salvage IndustryGlobalisation The Main Players
- 9. The New Players Modern Marine Salvage Company Structure
- 10. Modern Marine Salvage Company StructureParent CompanyShareholdersCorporate Governance(Finance, Insurance, Policies etc)Other Marine BusinessesSalvage CompanyPersonnelEquipmentFloating Assets
- 11. Major Hurdles and Challenges Personnel Salvage of Larger Vessels Passenger Ships
- 12. LNG Carriers
- 13. Containerships Contractual Issues Emergency Response
- 14. Wreck RemovalPersonnel Salvage Masters Salvage Engineers Naval Architects Salvage Divers Tug Masters with salvage experience
- 16. Salvage of Larger Ships Oasis of the Seas: 362m x 60m; 6,000+ passengers; US$1.3 billion
- 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
- 19. Shell Prelude FLNG: 488m x 74m; US$3 billion Taipei 101
- 23. Contractual Options Emergency Response
- 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
- 32. Lump Sum Contractual Difficulties Safety of Life
- 33. Protection of the Environment
- 34. Saving of Property
- 35. Liability/ Insurance
- 36. LumpsumOperational Difficulties Severe Weather
- 37. Very hot climates
- 38. Very cold climates
- 39. Typhoons
- 40. Remote Locations
- 41. Politically sensitive regions
- 42. Specially Designate Nationals
- 49. M/V NEW FLAMEOff Europa Point, Gibraltar