North P&I said the operation had been successfully completed by Titan Salvage, which won a tender to perform the lightening, refloating and scuttling of the partially buried bow section.
“The contract was unusual because of the extent to which Titan assumed the operational risks associated with the project, so minimising the chances of a cost overrun,” North P&I said.
“The bow section was refloated and scuttled in December 2014 and the remaining mid-section cut down and buried at the beginning of September 2015, with rehabilitation of the seabed completed immediately thereafter.”
North’s deputy global claims director Mike Salthouse commented, “The successful removal of this very large, high profile wreck highlights the benefits that flow from an open and early dialogue with the authorities responsible for managing a wreck site as well as all other stakeholders.”
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