Baltic Ace Salvage Operation Begins

By MarEx 2014-06-05 09:57:00

Two Dutch companies have begun operations to raise the Baltic Ace car carrier, which collided with a cargo ship in 2012. The accident killed 11 crewmembers and 1,400 cars sank with the ship in the North Sea.

Boskalis and Mammoet Salvage have been contracted to remove the bunker fuel and recover the automobile, which are in about 36 feet of water (11 meters) for an estimated $91 million (67 million euros).

The Baltic Ace collided with the Corvus J, a container ship in stormy weatheroff the Dutch coast in one of the busiest shipping in the North Sea. Dutch Public Works said that after the fuel is removed, the ship will be cut into pieces and brought ashore for scrap. 

Stamco Ship Management, based in Piraeus, Greece, managed the Baltic Ace, which is owned by Isle of Man-based Ray Car Carriers. It was vessel was insured for an estimated $60 million. ($1 = 0.7349 Euros) 

Copyright Reuters 2014.