Salvage

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  A major advantage of our targets is that unlike older wooden ships they are steel built with the majority sitting intact, on the seabed, meaning the cargoes are in situ and not spread out on the seabed.

Pre-1945 steel also potentially holds significant value as it was manufactured before the first atomic testing in 1945. As a result, this steel is not radioactive and allows it to be used in many specialised processes including the medical, nuclear and aerospace industries.

As a result of War Risk insurance, whereby the British Government underwrote all maritime losses, SalvOcean knows that the latter own the lost cargoes and the likelihood of any significant third-party claims is believed to be negligible

In many of the jurisdictions we operate it is necessary to have the wreck owner's permission to salvage. Most of our targets are owned by the UK Department for Transport with which we have relationships suggesting permission to salvage will be forthcoming.

  Given that the losses occurred on a global scale, our salvage operations are not governed by winter weather conditions. A suitably funded or successful SalvOcean will be able to run year round programmes

  SalvOcean operates under the International Convention for Salvage (1989) which is the de-facto regulation for all matters pertaining to marine salvage

SalvOcean is advised by an internationally recognised maritime law firm that provides guidance and best practice advice throughout all operations

  To ensure we are obtaining the highest chance of success, SalvOcean selects several ships it proposes to salvage in each programme to mitigate risk and enhance prospects , of positive return.

It also means SalvOcean can take advantage of greater economies of scale and work on multiple targets at the same time