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Salvage is the process of recovering a damaged or sunken vessel, its cargo, and other items of value from the sea. Salvage operations are often conducted in cases of maritime disasters, such as shipwrecks, collisions, fires, and other accidents. Salvage operations can also be conducted in cases of intentional destruction, such as piracy or illegal dumping.
The process of salvage is complex and involves a variety of legal and technical considerations. Salvage operations must be conducted in accordance with international maritime law and the laws of the country in which the salvage is taking place. Salvage operations must also take into account the safety of the salvagers, the environment, and the value of the salvage.
The goal of salvage is to recover as much of the vessel, cargo, and other items of value as possible. Salvage operations can involve the use of specialized equipment, such as cranes, divers, and submersibles. Salvage operations may also involve the use of explosives to break up the vessel or cargo.
The salvage process can be expensive, and the cost of the salvage operation must be taken into account when determining the value of the salvage. The cost of the salvage operation is typically paid for by the owner of the vessel or cargo, or by the salvagers themselves.
In some cases, the salvagers may be entitled to a portion of the value of the salvage. This is known as a “salvage award” and is typically determined by the court or other authority. The salvage award is intended to compensate the salvagers for their efforts in recovering the vessel or cargo.
Salvage operations can be dangerous and require specialized skills and knowledge. Salvage operations can also be time-consuming and expensive. However, the successful recovery of a vessel or cargo can be a rewarding experience for the salvagers and can result in a significant financial reward.