All wrecked vessels are presumed to have an owner; this may be an individual, an insurance company or underwriters. The loss may be either total or partial; any loss other than a total loss is a partial loss, while a total loss may be either an actual total loss, or a constructive total loss.
Salvage law and practice has developed as a crucial element in the risk management process, and has extended the realms of marine insurance to develop strategies to manage the risk, and mitigate the risk using the specific skills of the salvor.
The course enables the participant to understand the role of salvage in reducing the risk to properties in hazard, to the level accepted by the stakeholders in the undertaking.
To equip the participant with the knowledge of the critical elements in the law and practice of salvage, enabling them to understand the nature of salvage and its role in mitigating risk to stakeholders whose property is in hazard.
The aim will be achieved by developing skills which:
- Synthesise and appraise information and apply it effectively to legal theory and practice in salvage operations, with a view to resolving problem scenarios.
- Generate persuasive conclusions or practical solutions to complex problems arising in risk assessment.
- Exercise informed critical judgment to reflect upon and evaluate personal objectives and their achievement.
This course is delivered over two days, totalling six hours of online teaching time and includes a task which is to be completed after day one of the course.
At the end of day one of the course candidates will be assigned a task. This must be completed before the stat of day two. Participants are required to present and discuss the verdict/outcome/findings of their own own mini investigation on day two.
At the end of The Nautical Institute's Marine Salvage course, candidates will receive a Certifiate of Completion.