Costa Concordia sinking (2012)

On the evening of January 13, 2012, the Costa Concordia passed too close to Giglio Island, off Tuscany, and tore its hull open on a rock. It ended up lying on its side a few dozen meters from the harbor. More than 4,200 people were on board; 32 died. Hull underwriters treated the ship as a total loss within days, and that was the simple part of the file. The rest came down to location. A wreck of nearly 115,000 gross tons, resting on a sloping seabed, inside a marine park, in front of a village: the Italian state required it to be removed whole, with no cutting on site. The parbuckling rotation took place on September 16 and 17, 2013, the refloating in July 2014, then the tow to Genoa for scrapping. The wreck removal bill, including pollution prevention, the underwater platforms and seabed restoration, is generally quoted at around a billion dollars and above, out of all proportion to the value of the ship. The owner's P&I club carried it, under wreck removal and liabilities toward passengers and crew. Above the club retention, the claim rose into the International Group pool, where the thirteen clubs of the time share large losses, then into the excess of loss reinsurance program the Group buys in common. The program's 2013 renewal bore the mark: a sharp increase for every member shipowner, including those that had never touched a rock, and a specific loading on passenger vessels. In wreck removal, the cost depends on the site and the coastal authority far more than on the ship. Not to be confused with salvage, which saves property still afloat and is paid from its value; here there was nothing left to save, only an obligation to remove.