Golden Ray Wreck Salvage Award at One Million [The Brunswick News, Ga.]


September 17 — As the epic colossal, complex and multidimensional enterprise of removing 656 feet of shipwreck from St. Simons Strait surpasses the 2 year mark, the big question that preoccupies many minds boils down to two words: dollars and cents.

If the taxpayers of the Golden Islands are asking themselves, the answer is zero dollars and zero cents.

The owners and insurers of the castaways Golden ray don’t get off that easily.

In fact, a magazine specializing in the insurance industry recently assessed the cost of the Golden Ray rescue operation at $ 842 million and climbing. This is the permanent price of unprecedented operations, according to a 5 August article in the Londonpublication based on, Insurance Insider.

This figure is up from a February estimate of $ 788 million that has already been reported in another Londonindustry publication, The Insurer.

The cost includes not only the Herculean machines used to remove the wreckage, but also the large crews engaged in controlling pollution on land and water, said we Coast Guard Michael himes, spokesperson for the United Command. This is described in the Federal Oil Pollution Act 1990, which establishes environmental protection standards that must be observed during rescue operations in we waters.

Composed of coast guard, the Georgia Department of Natural Resources and Gallagher Marine SystemsThe Unified Command is there to ensure that rescue efforts and associated pollution control measures comply with oil pollution law, Himes said. And while the law’s guidelines insist on compliance regardless of the considerations on the issue of responsible entities, Himes said the owner and insurer of the Golden Ray are committed to paying expensive attention to the environmental clean-up of the lane. cleaning operation.

“When people look at this number (of $ 842 million), that’s what accountability looks like, ”Himes said. “I know people ask, ‘When will the insured be held liable? When will the shipowner be held responsible? Well, look at that price. When people try to figure out the cost, it is absolutely not taxpayers’ money. And the insurer and the shipowner fully support the (environmental protection) priorities of the Unified Command. “

The Golden Ray is owned by the South Korean shipping management company Hyundai Glovis and is provided by North of England P&I (Protection and Indemnity), although layers of corporate language obscure this foundation somewhat.

in the north of England is in fact just one of the many marine insurers in the UK P&I North Club.

In any event, the loss is incurred by a group of insurers under the umbrella of The International Group P&I.

And while the Hyundai Glovis Company has been listed from afar as the owner of the Golden Ray, technically the owner is a Korean outfit called GL NV24 Shipping Inc., according to a National Transport Safety Office report on the sinking which was released on Tuesday.

The NTSB report described Hyundai Glovis like chartering the Golden Ray. The Golden Ray was built at Hyundai MIPO Shipyard in Ulsan, South Korea, in 2017, with its sister ship, the Silver Ray.

Regardless of which of these entities takes the note, it was a drip even before the rescue operation began. When the Golden Ray spilled in the waters between Jekyll and Saint-Simon islands on September 8, 2019, the ship itself represented a loss of $ 62.5 million, according to NTSB report. Add to that another $ 142 million losses for the cargo of 4,161 vehicles that the vessel was carrying in its hold, the NTSB noted.

Like the price tag, the size and scope of the rescue operation was staggering. The Unified Command describes it as unique.

The rescue operation is being carried out by Texas-based T&T Recovery with a multitude of subcontractors. This includes a full-time flotilla of pollution clean-up boats in the waters surrounding the recovery site, as well as daily patrols on land to search for debris, balls of oil and tar, Himes said.

Costs included building a 1 mile perimeter environmental barrier around the recovery site, supplemented by a heavy duty mesh net underneath to catch loose vehicles. There’s also the imposing VB 10,000, a 255-foot-tall crane vessel that fed the chopping chain that split the wreckage into eight pieces for removal.

“I am comfortable saying that the amount of infrastructure that has been used around this historic wreck has never been done before in a we port, ”Himes said. “The protective barrier, the round-the-clock oil mitigation operations on the perimeter, the crews marching the shores every day, it comes at a cost. But that’s not the goal. To remove the wreckage to eliminate the environmental threat and the threat to navigation, that was the objective. “


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