The 2011 Lloyd's Open Form. While the subject of marine
salvage is one which often evokes dramatic images, the reality is
mostly very different. True it is that the subject of salvage is
invariably a ship in distress, but the hard reality is that salvage
normally involves much hard work, danger, and both physical and
financial risk. So, it is that for major casualties, professional
salvage operators dominate the market.
There are many misunderstandings, even among those in the
maritime industry, about the concept of salvage, and it is worth
briefly reminding readers of what is involved.
Going back some 3000 years, it was recognised that someone who
voluntarily incurs risk to save someone else's property in
danger at sea should be rewarded. This philosophy had a dual
purpose - firstly, to encourage seafarers to assist others in
difficulty, and secondly, to provide an incentive for them to do
so.
