salvage & law seminar titan salvage june11
TRANSCRIPT
UNITED STATES +1-954-545-4143 UNITED KINGDOM +44-1273-515555
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Matthew CallanCommercial Manager
UNITED STATES +1-954-545-4143 UNITED KINGDOM +44-1273-515555
SINGAPORE +65-63187828
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
UNITED STATES +1-954-545-4143 UNITED KINGDOM +44-1273-515555
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Titan Salvage Founded 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− Newhaven, United Kingdom− Singapore− Cairns, Australia (April 2011).
UNITED STATES +1-954-545-4143 UNITED KINGDOM +44-1273-515555
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Florida
Newhaven
Singapore
Cairns
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SINGAPORE +65-63187828
UNITED STATES +1-954-545-4143 UNITED KINGDOM +44-1273-515555
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Marine Salvage Industry Globalisation• The Main Players• The ‘New’ Players
Modern Marine Salvage Company Structure
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SINGAPORE +65-63187828
Modern Marine Salvage Company Structure
Parent Company Shareholders
Corporate Governance(Finance, Insurance, Policies etc)
Other Marine BusinessesSalvage Company
Personnel Equipment Floating Assets
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Major Hurdles and Challenges Personnel Salvage of Larger Vessels• Passenger Ships• LNG Carriers• Containerships
Contractual Issues• Emergency Response• Wreck Removal
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Personnel Salvage Masters Salvage Engineers Naval Architects Salvage Divers Tug Masters with salvage experience
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SINGAPORE +65-63187828
UNITED STATES +1-954-545-4143 UNITED KINGDOM +44-1273-515555
SINGAPORE +65-63187828
Salvage of Larger Ships Oasis of the Seas: 362m x 60m; 6,000+ passengers; US$1.3 billion Maersk EEE: 300m x 59m; 18,000 TEU; US$180 million exc. cargo Q-Max: 345m x 54m; 266,000 m3 LNG; US$300 million exc. cargo Shell Prelude FLNG: 488m x 74m; US$3 billion – Taipei 101
UNITED STATES +1-954-545-4143 UNITED KINGDOM +44-1273-515555
SINGAPORE +65-63187828
UNITED STATES +1-954-545-4143 UNITED KINGDOM +44-1273-515555
SINGAPORE +65-63187828
UNITED STATES +1-954-545-4143 UNITED KINGDOM +44-1273-515555
SINGAPORE +65-63187828
UNITED STATES +1-954-545-4143 UNITED KINGDOM +44-1273-515555
SINGAPORE +65-63187828
UNITED STATES +1-954-545-4143 UNITED KINGDOM +44-1273-515555
SINGAPORE +65-63187828
Contractual Options Emergency Response• LOF • LOF with SCOPIC• Lumpsum ‘No cure, No Pay’• Daily Rate with/ without ‘No cure, No Pay’• DIY – Do It Yourself
Wreck Removal• Daily Hire• Stage Payments• Lump Sum
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Contractual Difficulties Safety of Life Protection of the Environment Saving of Property Liability/ Insurance Lumpsum
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SINGAPORE +65-63187828
Operational Difficulties Severe Weather• Very hot climates• Very cold climates• Typhoons
Remote Locations Politically sensitive regions Specially Designate Nationals
UNITED STATES +1-954-545-4143 UNITED KINGDOM +44-1273-515555
SINGAPORE +65-63187828
UNITED STATES +1-954-545-4143 UNITED KINGDOM +44-1273-515555
SINGAPORE +65-63187828
UNITED STATES +1-954-545-4143 UNITED KINGDOM +44-1273-515555
SINGAPORE +65-63187828
UNITED STATES +1-954-545-4143 UNITED KINGDOM +44-1273-515555
SINGAPORE +65-63187828
UNITED STATES +1-954-545-4143 UNITED KINGDOM +44-1273-515555
SINGAPORE +65-63187828
UNITED STATES +1-954-545-4143 UNITED KINGDOM +44-1273-515555
SINGAPORE +65-63187828
UNITED STATES +1-954-545-4143 UNITED KINGDOM +44-1273-515555
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M/V NEW FLAMEOff Europa Point, Gibraltar
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UNITED STATES +1-954-545-4143 UNITED KINGDOM +44-1273-515555
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UNITED STATES +1-954-545-4143 UNITED KINGDOM +44-1273-515555
SINGAPORE +65-63187828
UNITED STATES +1-954-545-4143 UNITED KINGDOM +44-1273-515555
SINGAPORE +65-63187828
UNITED STATES +1-954-545-4143 UNITED KINGDOM +44-1273-515555
SINGAPORE +65-63187828
UNITED STATES +1-954-545-4143 UNITED KINGDOM +44-1273-515555
SINGAPORE +65-63187828
UNITED STATES +1-954-545-4143 UNITED KINGDOM +44-1273-515555
SINGAPORE +65-63187828