While the Costa Concordia shipwreck became major international news as authorities tried to salvage it, not as many people may be familiar with Rena. That's the name of a container vessel that wrecked off of the coast of New Zealand four years ago at Astrolabe Reef. As IHS Maritime 360 reports, the operation to salvage the wreck ended up costing the equivalent of $317.2 million, second only to the Concordia salvage operation's cost of more than $1 billion.
In addition to the wreckage of the ship itself, the Rena also left behind fuel and cargo. While hearings related to the case are ongoing until next month, the vessel has already earned a place among lists of other costly salvage efforts.
A New Zealand source, the SunLive, lists some of the specific costs accrued during the salvage mission. These include the oil recovery in 2011, which cost the equivalent of $180 million, as well as a subsequent debris removal procedure that accounted for $80 million between 2013 and last year.
In the summer of 2014, more than two years after it had initially wrecked, the Concordia was finally brought to Genoa from its initial crash site near Giglio after a four-day float accompanied by tugboats. CNN reported on this arrival at the time, noting that "more than 80 percent" of the cruise ship was set to be repurposed as the ship is dismantled. This process is said to take two years.
Recovering a large ship, as well as all of the material associated with it, could require extensive dive and support vessel work. Insurance for divers and other crew members may need to include the risks they are likely to encounter during this time to keep losses low.