Concordia rises along with cost

Claudio Perrella, of LS LexJus Sinacta, reports on the latest from Italy on the Costa Concordia wreck removal

The Costa Concordia capsized on January 13, 2012, while carrying about 3,200 passengers and 1,000 crew members. The disaster is one of the worst in the cruise industry’s recent history and the largest marine insurance loss on record. The ship sailed too close to the coastline of the Il Giglio island, and struck a rocky reef. A 40-metre long gash was torn in the £370m ship’s hull, causing it to take on large quantities of water in minutes and list violently. The Concordia capsized after the captain tried to turn around and head into the island’s port.