# salvage costs

*Last updated: 2026-06-26*

> Shipping companies, cargo owners, and their insurers engage specialist salvage operators when vessels or cargo must be recovered after a maritime casualty – grounding, collision, or severe storm damage.

Shipping companies, cargo owners, and their insurers engage specialist salvage operators when vessels or cargo must be recovered after a maritime casualty – grounding, collision, or severe storm damage. Salvage costs cover the deployment of salvage tugs, divers, and specialized equipment, as well as towage to a safe port, temporary storage, and the administrative settlement process. Amounts vary considerably depending on the complexity, water depth, and remoteness of the operation; allocation and insurance coverage are governed by the salvage contract – most commonly Lloyd's Open Form – and the applicable hull or cargo policy. Unlike rescue costs, which relate to preserving human life, salvage costs concern the recovery and preservation of property. Where the conditions for general average are met, they may be apportioned among all parties with an interest in the adventure.

**Source:** [https://en.wikipedia.org/wiki/Salvage](https://en.wikipedia.org/wiki/Salvage)

## Quick Facts

| Property | Value |
|---|---|
| Term | salvage costs |
| Language | EN |
| Word count | 133 |
| Last updated | 2026-06-26 |
| Source | https://en.wikipedia.org/wiki/Salvage |

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