The challenges and implications of removing shipwrecks in the 21st century (2.14 MB, pdf)

Recent examples include the MV Rena, a container ship which sank off New Zealand in 2011 (cost, $240 million to date) and the Costa Concordia.

The total cost of the top 20 most expensive wreck removals in the past decade is $2.1bn and rising. The report shows how increasing vessel sizes and growing cargo volumes are driving up wreck removal costs. In the 1990s a large container vessel carried 5000 twenty foot equivalent units (TEU).Today, the largest container ship has a capacity of 16,000 units.

Date of publication: March 2013