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
In fact, a magazine specializing in the insurance industry recently assessed the cost of the Golden Ray rescue operation at
This figure is up from a February estimate of
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
“When people look at this number (of
The Golden Ray is owned by the South Korean shipping management company
in the north of
In any event, the loss is incurred by a group of insurers under the umbrella of The International Group P&I.
And while the
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
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
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
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