Thursday, May 20, 2010

BP's Contracted Boat Crews Get Salvage Rights

BP's "Vessels of Opportunity" contract to recruit local boaters along the Gulf has some interesting language.

All derelicts and salvage shall be for VESSEL OWNER'S and CHARTERER'S equal benefit, after deducting VESSEL OWNER'S and CHARTERER'S expenses and crew portion.

I thought the point of the program was to clean up the oil?


As my friend Caleb pointed out (after doing the obvious Google search for "Marine Salvage"), I am making a whole lot of nothing out of this:

The aim of the salvage may be to repair the vessel at a harbour or dry dock, or to clear a channel for navigation. Another reason for salvage may be to prevent pollution or damage to the marine environment. Alternatively the vessel or valuable parts of the vessel or its cargo may be recovered for its resale value, or for scrap.

With any luck, these chartered crews will be able to salvage some of the wreckage of the oil rig, block the further spread of oil, and make some money off BP before the seafood industry divebombs in the region.

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