US deal looks like beginning of new Svitzer strategy

One focus point of Svitzer's new strategy, unveiled in the spring of 2014, was to turn salvage into a much bigger business area for the Maersk-owned company. A collaboration with the US heavyweight Titan seems to make good sense.

Photo: Gregorio Borgia/AP/POLFOTO

A collaboration with US-based Titan Salvage seems to make good sense for Svitzer, which as recently as the spring of this year announced a new strategy that featured wreck removal as a significant ambition for the Maersk-owned salvage and towage company.

Titan Salvage's track record, which includes around 500 salvage operations, some of which feature among the most spectacular jobs undertaken, such as raising and moving wrecked cruise ship Costa Concordia off the coast of Italy, means that Svitzer is allegedly discussing a close collaboration with an international heavyweight in salvage.

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