It appears as though Titan Salvage, in conjunction with Italy’s Micoperi, are in final negotiations to win the contract to save the Costa Concordia. The contract is expected to be finalized this weekend with a price tag of $330 million to $370 million.
According to sources, the methods by which Titan proposed to salvage the vessel were unique amongst the other bidders. No doubt a result of over 30 years of vessel salvage experience.
The proposal involves first using tanks to partially raise and rotate the ship, then supporting it with an underwater platform so that hull repairs can be executed. Other proposals reportedly involved either cutting up the ship where it lies or trying to float it as-is and tow it away.
The Costa Concordia wrecked off the Italian island of Giglio on January 13th with over 4,200 passengers & crew onboard. 32 lives were lost in the wreck and the CaptainThe Costa Concordia has already been written off by its parent company, Carnival Corporation.