WRECKS REMOVED

摘要

THE WORLD'S SALVAGE capacity is under threat after an alarming drop in the sector's revenues last year. Gross revenue fell from $482m in 2019 to $301m in 2020 as the number of services provided by members of the International Salvage Union 〔ISU〕 dropped from 216 in 2019 to 182. Revenue through Lloyd's Open Form 〔LOF〕 cases actually increased from $49m in 2019 to $60m."The 2020 ISU statistics show a 38 per cent fall in the income received by our members compared with the previous year," notes ISU president Richard Janssen. "It is the dramatic fall in wreck removal income that stands out in these statistics - a 65 per cent drop. In recent years, wreck removal income has represented roughly 50 per cent of our members' income but in 2020 it accounted for just under 33 per cent."The economic pressures on our industry continue and we know that on an annual basis activity and income for our industry is variable. The general trend towards a smaller number of larger and more complex cases enhances that annual variability," Janssen adds. "There has also been some structural change in the industry in the last 18 months with the loss of a major player. That may have had an impact on these statistics but it is not possible to say for certain or to what extent."