Lack of insurance hindered grounded ship’s salvage efforts

Source: Business Insurance

August 02, 2019 U.K.’s Marine Accident Investigation Branch said that a Russian cargo ship that grounded off Gyllyngvase beach in Falmouth in December 2018 was not insured, which has hindered salvage efforts, BBC reported. The agency said that the 16,000-ton Kuzma Minin ran aground during a storm and salvage firms were unwilling to help due to payment concerns.