Cruise Ship Disaster

Wednesday, January 18, 2012 @ 07:01 AM

Making headline news this week has been the sinking of the Costa Concordia.

This is shaping up to be the most expensive individual shipwreck in history where the situation has not been made worse by pollution clear up costs following leakage of fuel

When you combine the value of the ship, compensation for injuries and deaths and lost revenue from future cruises the total bill could well exceed £500 million.

It’s hard to see how the vessel might be salvaged and it is likely to be declared a total loss.

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