Oceanic Research and Recovery and Deep Marine Salvage have agreed upon their first intended "cluster" of five commodity-based salvage targets.
These targets have been selected from ORRV's vast portfolio of shipwrecks lost in northern hemisphere waters.
The combined manifested value of these cargos is a minimum of USD2 billion at current commodity prices, and consists of platinum, gold, silver, copper and zinc.
Cluster Targeting, a new approach to salvage planning developed by DMS, leverages the close proximity of valuable shipwrecks to maximising the amount of time the primary salvage ship can remain on site during each recovery cycle, minimising the high cost of vessel mobilisation, location transit and vessel demobilisation and minimising the risk that undersea working conditions on a wreck might make salvage unprofitable thereby forcing a return to port.
"This cluster has been selected because the wrecks are close to each other and because they lie at shallow depths," said Scott Heimdal, CEO of ORRV. "
On the water time is money, the faster you can put it on the deck the higher your margins," continued Mr. Heimdal. "Working depth is a big factor in feasibility planning. Selecting this cluster ensures minimal daily operating costs."