The Telegraph headline says £200 million, but the scrap value of the vessel must be much lower than that:
The operation is due to start in the next few days and is expected to take a year, with the battered ship to be towed to an Italian port in one piece and then dismantled for scrap.
“This is the largest ship removal by weight in history,” said Richard Habib, the president of Titan Salvage, the American company that has been given the job of raising the 1,000ft-long, 114,500 tonne cruise liner.
“The magnitude of the job is unprecedented. But we feel confident that we can do it and do it safely, with the least disturbance to the environment and the economy of Giglio.” The Concordia has been wedged on rocks and semi-submerged just a few yards from the coast of Giglio, an island off Tuscany, ever since it ran aground on the night of Jan 13.
[. . .]
The two companies’ plan for removing the wreck involves extracting the huge chunk of rock embedded in its side and patching up the torn hull.
Engineers and divers will then construct an underwater platform beneath the ship.
They will also fix steel compartments or ‘caissons’ to the side of the ship that is out of the water.
Two cranes will slowly pull the ship upright so that it rests on the submerged platform.
The caissons will be filled with water to help the cranes lift the massive weight of the ship.
Once the vessel is upright, more chambers will be attached to the other side of the hull.
All the caissons will then be emptied of water and filled with air, which will stabilise the ship in preparation for it being towed to a nearby port for demolition.
